The USDCAD hits the first target – Analysis - 05-07-2022
1 year ago

The USDCAD pair succeeded to touch our first waited target at 1.2840 and finds solid support there, to show some slight bullish bias now, while the EMA50 forms continuous negative pressure against the price, to support the continuation of the negative scenario that its targets extend to 1.2770 after breaking the previous level.


Therefore, we will keep our bearish overview unless the price rallied to breach 1.2930 and hold above it.



The expected trading range for today is between 1.2790 support and 1.2920 resistance.

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The expected trend for today: Bearish

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