The USDCAD faces solid resistance – Analysis - 16-11-2020
Economies.com
2020-11-16 04:57AM UTC
The USDCAD pair found solid resistance at 1.3170 barrier, to rebound bearishly and begins testing the EMA50 that forms support barrier at 1.3100, which pushes the price to achieve more expected decline on the intraday basis, on its way to return to the main bearish track again.
Therefore, we expect witnessing more decline in the upcoming sessions, and the targets begin at 1.3000 followed by 1.2960, noting that breaching 1.3170 will stop the suggested negative scenario and leads the price to turn to rise.
The expected trading range for today is between 1.3030 support and 1.3170 resistance.
The expected trend for today: Bearish
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