The USDCAD is recovering again – Analysis - 18-04-2022
Economies.com
2022-04-18 01:35AM UTC
The USDCAD pair rallied upwards to settle above 1.2590 level again, getting positive support by the EMA50, while stochastic loses its positive momentum to form negative pressure against the price.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to the mentioned level, noting that consolidating above it will lead the price to achieve additional gains that reach 1.2725, while breaking it and trading below it will press on the price to decline towards 1.2480 mainly.
The expected trading range for today is between 1.2540 support and 1.2670 resistance.
The expected trend for today: Neutral
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