The USDCAD attempts to recover – Analysis - 17-02-2021
Economies.com
2021-02-17 05:00AM UTC
The USDCAD pair traded with strong positivity yesterday to test the EMA50 that forms solid resistance at 1.2700, as it meets the intraday bearish channel’s resistance that appears on the chart, while stochastic shows clear overbought signals now.
Therefore, we believe that the chances valid to resume the main bearish trend, which targets 1.2590 areas mainly, noting that breaching 1.2700 will push the price to achieve additional gains and test 1.2780 before any new attempt to decline.
The expected trading range for today is between 1.2620 support and 1.2760 resistance.
The expected trend for today: Bearish
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