The USDCAD attempts to recover – Analysis - 31-03-2020
Economies.com
2020-03-31 04:46AM UTC
The USDCAD pair provided clear positive trades yesterday to move away from 1.4015, on its way to test the key resistance 1.4264, but we notice that the EMA50 forms an obstacle against the rise, accompanied by witnessing clear negative signals through stochastic.
Therefore, these factors encourage us to suggest the bearish trend in the upcoming sessions, waiting to test 1.4015 level again, reminding you that breaking this level will push the price to 1.3813, while the expected decline will remain valid conditioned by the price stability below 1.4264.
The expected trading range for today is between 1.4050 support and 1.4264 resistance.
The expected trend for today: Bearish
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