The USDCAD declines again – Analysis - 10-01-2022
Economies.com
2022-01-10 04:52AM UTC
The USDCAD pair couldn’t manage to surpass 1.2725 level, to decline strongly and head towards key turn to the trend, as we notice that the price draws head and shoulders’ pattern that might press on the price to suffer more losses on the intraday and short term basis.
Therefore, the bearish bias will be suggested in the upcoming sessions unless the price rallied to breach 1.2725 and hold above it, noting that the expected targets begin at 1.2590 and extend to 1.2480 after breaking the previous level.
The expected trading range for today is between 1.2560 support and 1.2700 resistance.
The expected trend for today: Bearish
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