USDCAD reaches the target – Analysis - 25-04-2017
Economies.com
2017-04-25 04:35AM UTC
The USDCAD pair kept its stability above the bullish channel's support that appears on chart, and it opens today's trading with clear bullish bias to reach our main waited target at 1.3574, which represents 50% Fibonacci correction level for the decline measured from 1.4688 to 1.2459, which means that breaching this level will push the price to target 1.3837 as a next main station.
The EMA50 keeps providing the positive support to the price, which encourages us to suggest more rise in the upcoming period, which will remain valid and active unless breaking 1.3450 level and holding below it.
Expected trading range for today is between 1.3470 support and 1.3660 resistance.
Expected trend for today: Bullish
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