The USDCAD loses momentum – Analysis - 02-12-2022
Economies.com
2022-12-02 05:11AM UTC
The USDCAD pair shows some slight bullish bias within minor bullish channel that we believe it forms bearish flag pattern, thus, breaking 1.3420 will activate the negative effect of this pattern and push the price to resume the expected bearish trend on the intraday basis, which targets 1.3350 as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1.3500.
The expected trading range for today is between 1.3340 support and 1.3500 resistance.
The expected trend for today: Bearish
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