The USDCAD attempts to recover – Analysis - 29-06-2022

Economies.com
2022-06-29 04:22AM UTC

The USDCAD pair shows positive trades to approach retesting the neckline again, affected by stochastic positivity, noticing that the indicator loses its positive momentum clearly, while the EMA50 forms negative pressure against the price.

 

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which depends on the price stability below 1.2930, while its next main target is located at 1.2770.

 

The expected trading range for today is between 1.2800 support and 1.2930 resistance.

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The expected trend for today: Bearish

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