The USDCAD achieves strong gains – Analysis - 19-03-2020

The USDCAD pair rallied upwards strongly yesterday to surpass our waited target at 1.4430 and reaches the thresholds of 2016 recorded high at 1.4688 by today’s opening, to hint the continuation of the bullish trend on the medium term and long term basis, organized inside the bullish channel that appears on the chart, noting that surpassing the mentioned top will extend the bullish wave to reach 1.4946.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that failing to breach 1.4688 will press on the price to start correctional bearish wave that targets testing 1.4400 areas initially.

The expected trading range for today is between 1.4500 support and 1.4750 resistance.

The expected trend for today: Bullish