The USDCAD achieves clear gains – Analysis - 04-01-2022

Economies.com
1 year ago

The USDCAD pair bounced upwards strongly yesterday to breach 1.2725 level, but it hit solid resistance barrier formed by the EMA50 at 1.2775, to decline again and start pressing on 1.2725 level, which encourages us to suggest the domination of the bearish bias in the upcoming sessions, waiting to head towards 1.2590 as a main negative target.

 

Stochastic supports the expected decline, which will remain valid unless breaching 1.2775 and holding above it.

 

The expected trading range for today is between 1.2650 support and 1.2775 resistance.

The expected trend for today: Bearish

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