The USDCAD is recovering – Analysis - 06-05-2022

Economies.com
2022-05-06 04:20AM UTC

The USDCAD pair bounced upwards strongly after failing to break 1.2725 level, to resume the bullish track and head towards visiting the previously recorded high at 1.2950 as a next positive target.

 

Therefore, we expect to witness more expected rise on the intraday basis, noting that the continuation of the bullish wave requires holding above 1.2725.

 

The expected trading range for today is between 1.2750 support and 1.2910 resistance.

The expected trend for today: Bullish

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