The USDCAD is recovering – Analysis - 28-11-2022

The USDCAD pair opened today with strong positivity to move away from 1.3350 level and attempts to achieve intraday gains, which stops the recently suggested negative scenario and put the price within sideways range that we expect to confine trades between 1.3350 support and 1.3500 resistance, and the price needs to surpass one of these levels to detect its next destination clearly.

Note that the continuation of the rise and breaching the mentioned resistance will lead the price to achieve more gains that reach 1.3680, while breaking the support will press on the price to resume the main bearish wave that its next target located at 1.3205.

The expected trading range for today is between 1.3360 support and 1.3530 resistance.

The expected trend for today: Sideways