The USDCAD attempts to recover – Analysis - 24-05-2022
Economies.com
2022-05-24 04:18AM UTC
The USDCAD pair managed to achieve our waited target at 1.2770 and found solid support there, to show some bullish bias now, on its way for potential test to the key resistance 1.2840, affected by stochastic positivity, noticing that the EMA50 meets the mentioned resistance to add more strength to it, to support he chances of continuing the correctional bearish scenario for the upcoming period.
Breaking 1.2770 is required to confirm rallying towards the next target that reaches 1.2695, while breaching 1.2840 will stop the expected decline and lead the price to return to the main bullish track again.
The expected trading range for today is between 1.2740 support and 1.2850 resistance.
The expected trend for today: Bearish
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