The USDCAD declines strongly – Analysis - 11-08-2022
1 year ago

The USDCAD pair faced negative pressure yesterday to break 1.2870 and reach 1.2780, as it broke this level and closed the daily candlestick below it, to head towards achieving more expected decline in the upcoming sessions, as the next target is located at 1.2685.


Therefore, the decline will dominate in the upcoming sessions, taking into consideration that breaching 1.2780 and holding above it might push the price to start recovery attempts that target testing 1.2870 areas initially.



The expected trading range for today is between 1.2700 support and 1.2850 resistance.

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The expected trend for today: Bearish

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