The USDCAD attempts to recover – Analysis - 02-08-2022
Economies.com
2022-08-02 04:13AM UTC
The USDCAD pair found solid support at 1.2790 to rebound bullishly and test the key resistance 1.2870, noticing that the EMA50 forms continues negative pressure against the price, accompanied by stochastic loss to the positive momentum clearly.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which depends on the price stability below the mentioned resistance, while its targets begin at 1.2790 and extend to 1.2685 after breaking the previous level.
The expected trading range for today is between 1.2770 support and 1.2900 resistance.
The expected trend for today: Bearish
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