The USDCAD faces new negative pressure – Analysis - 11-03-2022
Economies.com
2022-03-11 04:00AM UTC
The USDCAD pair declined again to move below 1.2800, but we notice that the EMA50 continues to protect the price from suffering more losses, while stochastic keeps providing the positive signals.
Therefore, we believe that the chances valid to resume the bullish trend, which targets 1.2950 level as a next main station, noting that holding above 1.2725 represents the most important condition to continue the expected rise.
The expected trading range for today is between 1.2725 support and 1.2860 resistance.
The expected trend for today: Overall bullish
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