USDCAD loses momentum – Analysis - 22-06-2016
Economies.com
2016-06-22 00:51AM UTC
The USDCAD pair fluctuated in sideways track yesterday settled near 1.2800, noticing that stochastic lost its bullish momentum to reach the thresholds of the overbought levels, accompanied by the price move near the EMA50 that forms a good resistance barrier against the intraday and short term trading.
Therefore, these factors encourage us to keep preferring the bearish trend, and its next main target located at 1.2459, while its continuation conditioned by the stability of the daily close below 1.2985 level.
Expected trading range for today is between 1.2660 support and 1.2900 resistance.
Expected trend for today: Bearish
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