The USDCAD hits the first target – Analysis - 26-03-2020

The USDCAD pair succeeded to achieve our first waited target at 1.4264 and broke it to close the daily candlestick below it, which support the chances of extending the bearish wave on the intraday and short term basis, on its way to head towards 1.4015 that represents the next correctional target.

Therefore, the bearish bias will remain expected for the upcoming period, noting that breaching 1.4264 is considered as the first positive key to get rid of the current negative pressure and return to the main bullish track.

The expected trading range for today is between 1.4130 support and 1.4330 resistance.

The expected trend for today: Bearish