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The USDCAD awaits more decline – Analysis - 02-05-2023
The USDCAD pair hovers around the EMA50, showing sideways trades since yesterday, while stochastic begins to lose the positive momentum.
Until now, the intraday bearish trend scenario still active, waiting to test 1.3500 as a next station, reminding you that breaking this level will push the price to 1.3350 areas as a next main station, while breaching 1.3585 represents positive factor that will lead the price to start recovery attempts that target visiting 1.3680 areas initially.
The expected trading range for today is between 1.3470 support and 1.3600 resistance.
The expected trend for today: Bearish
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