The USDCAD hits the first target – Analysis - 03-10-2022
Economies.com
2022-10-03 04:17AM UTC
The USDCAD pair rallied upwards strongly after breaching the bullish pennant’s resistance line to succeed touching our first waited positive target at 1.3795, showing some bearish bias affected by stochastic negativity to test the bullish channel’s support line, while the EMA50 continues to provide the positive support to the price.
Therefore, we believe that the chances are valid to continue the bullish trend, which its next target located at 1.3900, noting that breaking 1.3750 might press on the price to decline and test 1.3650 areas before any new attempt to rise.
The expected trading range for today is between 1.3680 support and 1.3830 resistance.
The expected trend for today: Bullish
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