The USDCAD is recovering – Analysis - 06-01-2022
The USDCAD pair traded with clear positivity yesterday to breach 1.2725 and settles above it, and keeps rising to complete forming double bottom pattern that its signs appear on the chart, which leads the price to achieve more expected gains in the upcoming sessions.
Therefore, the bullish bias will be suggested for today, and the targets begin at 1.2840 and extend to 1.2950 after surpassing the previous level, noting that the continuation of the bullish wave requires holding above 1.2725 – 1.2690 levels.
The expected trading range for today is between 1.2725 support and 1.2860 resistance.
The expected trend for today: Bullish