The USDCAD approaches the negative target – Analysis - 09-12-2021
Economies.com
2021-12-09 05:11AM UTC
The USDCAD pair provided additional negative trades yesterday to approach our waited target at 1.2590, and bounced bullishly to fluctuate around 1.2660 now, noticing that stochastic lost its positive momentum to enter the overbought areas, waiting to motivate the price to resume the negative trades to break 1.2590 and head towards 1.2480 as a next negative target.
Therefore, the bearish trend scenario will remain valid and active as long as 1.2725 level remains intact.
The expected trading range for today is between 1.2570 support and 1.2720 resistance.
The expected trend for today: Bearish
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