The USDCAD hits the target – Analysis - 04-03-2022
Economies.com
2022-03-04 04:20AM UTC
The USDCAD pair succeeded to touch our waited target at 1.2590 and bounced bullishly from there, to test the key resistance 1.2725, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum clearly.
Therefore, these factors encourage us to suggest the bearish bias for today, which targets testing 1.2590 level again, noting that breaching 1.2725 will stop the negative scenario and push the price to turn to rise.
The expected trading range for today is between 1.2620 support and 1.2760 resistance.
The expected trend for today: Bearish
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