The USDCAD faces solid support – Analysis - 31-03-2022
1 year ago

The USDCAD pair attempted to break 1.2480 level but it found solid support there, to show some bullish bias now, noticing that the EMA50 forms continuous negative pressure against the price, while stochastic loses its positive momentum clearly.


Therefore, these factors support the chances of resuming the negative trading to break the above mentioned level and rally towards our next target that extends to 1.2365, reminding you that the continuation of the bearish wave depends on the price stability below 1.2590.


The expected trading range for today is between 1.2440 support and 1.2590 resistance.

The expected trend for today: Bearish

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