The USDCAD breaks the support – Analysis - 17-03-2021

2021-03-17 05:10:37 GMT (Economies.com)
 

The USDCAD pair managed to break 1.2468 and closed the daily candlestick below it, to trade negatively and approaches our waited target at 1.2415, expecting to continue the decline on the intraday and short-term basis to reach 1.2250 as a next main station.

 

Therefore, the bearish trend will remain dominant in the upcoming sessions, taking into consideration that breaching 1.2468 and holding above it is considered as initial positive key to start recovery attempts and intraday bullish correction before turning back to decline again.

 

The expected trading range for today is between 1.2380 support and 1.2520 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.2137
-0.0036
0.2966%
1.4122
-0.0014
0.1015%
Tadawul
10322.68
86.96
0.85%
27.451
-0.353
1.271%
65.449
0.057
0.087%
68.55
0.41
0.60%
1831.710
-12.515
0.679%
 
 
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