The USDCAD attempts to recover – Analysis - 13-08-2019
Economies.com
2019-08-13 05:08AM UTC
The USDCAD pair shows some bullish bias after testing the bullish channel’s support line, noticing that stochastic reaches the overbought areas, while the price keeps its stability below 1.3286.
Therefore, we suggest witnessing negative trades today, and the price needs to break 1.3200 to reinforce the chances of rallying towards 1.3050 that represents our next main target, noting that breaching 1.3286 will stop the expected decline and push the price to achieve more gains on the short term basis.
The expected trading range for today is between 1.3160 support and 1.3300 resistance.
The expected trend for today: Bearish
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