USDCAD tests the moving average – Analysis - 10-02-2017
Economies.com
2017-02-10 05:20AM UTC
The USDCAD pair crawls downwards gradually to move away from the intraday bearish channel's resistance, to keep the bearish trend active for the upcoming period, noticing that stochastic loses its positive momentum gradually to support the expectations of more decline, waiting to test 1.2985 level initially.
We remind you that breaking the targeted level will extend the bearish wave to reach 1.2700 as a next main station, while the bearish trend will remain valid and active unless breaching 1.3195 and the most important 1.3310 and holding above them.
Expected trading range for today is between 1.3000 support and 1.3195 resistance.
Expected trend for today: Overall Bearish
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