The USDCAD breaks the support – Analysis - 05-08-2020
Economies.com
2020-08-05 03:57AM UTC
The USDCAD pair succeeded to break 1.3362 to decline strongly and approaches our first waited target at 1.3270, which supports the continuation of the expected bearish trend on the intraday and short term basis, which its next target located at 1.3200.
Therefore, we are waiting for more decline in the upcoming sessions, noting that holding below 1.3362 and 1.3395 levels represents key condition to continue the suggested bearish bias.
The expected trading range for today is between 1.3200 support and 1.3360 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Dollar plumbs three-week low ahead of US payrolls report
2024-05-03 11:57AM UTC
Dollar fell in European trade on Friday against a basket of major rivals, extending losses for the ...
Forex
Yen hits three-week high as Japanese authorities intervene
2024-05-03 04:57AM UTC
Yen rose in Asian trade on Friday against major rivals, extending gains for the third straight ...
Forex
Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The NZDUSD price breached 0.6000$ level strong and settled above it, reinforcing the expectations ...
Forex
The AUDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The AUDUSD price traded with strong positivity to succeed achieving our new waited target at ...
Forex
The GBPUSD forecast update 03-05-2024
2024-05-03 13:52PM UTC
The GBPUSD price traded with strong positivity to breach 1.2580$ level strongly but it returns to ...