The USDCAD attacks the resistance – Analysis - 16-04-2019

The USDCAD pair traded with strong positivity yesterday to settle at 1.3382 level again, but we notice that the price begins today with more of the upside moves to attack the mentioned level, providing signals for heading to achieve more of the potential gains, which makes us prefer staying a side in order to monitor the daily candlestick close according to 1.3382 level, then detect the next trend clearly.

Note that confirming breaching the mentioned level will push the price to turn to the upside and achieve gains that begin at 1.3500 and extend to 1.3700, while the trading below it will push the price to resume the bearish wave that its initial main target located at 1.3220

The expected trading range for today is between 1.3300 support and 1.3460 resistance.

The expected trend for today: Neutral