The USDCAD loses momentum – Analysis - 05-01-2021
Economies.com
2021-01-05 05:27AM UTC
The USDCAD pair provided positive trades yesterday after finding solid support at 1.2688, but it stopped at the EMA50 that formed good intraday resistance, noticing that stochastic lost its positive momentum, which form negative factors that support the chances of resuming the main bearish track.
Therefore, the bearish bias will be expected for today conditioned by the price stability below 1.2780, noting that breaking 1.2688 is required to confirm opening the way to visit 1.2585 as a next negative target.
The expected trading range for today is between 1.2670 support and 1.2820 resistance.
The expected trend for today: Bearish
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