The USDCAD approaches the target – Analysis - 20-05-2022
Economies.com
2022-05-20 04:27AM UTC
The USDCAD pair traded with clear negativity yesterday and approached our waited target at 1.2770, and returns to fluctuate near 1.2840, keeping its stability below it, to keep the bullish trend scenario valid and active on the intraday basis, supported by the negative pressure formed by the EMA50, waiting to test 1.2770 initially.
Breaking the mentioned level will extend the bearish wave to reach 1.2695, while breaching 1.2840 represents positive factor that will lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1.2750 support and 1.2870 resistance.
The expected trend for today: Bearish
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