The USDCAD faces negative pressure – Analysis - 12-07-2021
Economies.com
2021-07-12 03:57AM UTC
The USDCAD pair faced negative pressure to break 1.2500 level and settles below it, but we notice that the EMA50 attempts to protect the price to suffer more losses, while stochastic shows clear oversold signals now.
Therefore, we believe that the chances valid to trade positively in the upcoming sessions, to keep the positive scenario active on the intraday and short term basis, reminding you that our next main target extends to 1.2650, while holding above 1.2410 represents key condition to achieve it.
The expected trading range for today is between 1.2400 support and 1.2540 resistance.
The expected trend for today: Bullish
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