The CADCHF surrenders to the negative pressures– Analysis – 10-12-2019

The CADCHF price declined below the moving average 55, which forms an extra resistance by its stability near 0.7490, reinforcing the expected bearish bias domination, therefore, we will keep waiting for the price reach to the extra support at 0.7440 and breaking this level might extend the trading to the downside towards 0.7390, to form the second negative station of the bearish bias.

By the above image, we notice stochastic reach below 50 level, to increase the chances for gathering extra negative momentum, confirming the attempt of recording the mentioned negative targets.

The expected trading range for today is between 0.7480 and 0.7390

The expected trend for today: Bearish