The USDCAD loses momentum – Analysis - 23-11-2020
Economies.com
2020-11-23 05:00AM UTC
The USDCAD pair moves inside intraday bearish channel that appears on the chart, falling under negative pressure formed by the EMA50, noticing that stochastic loses its positive momentum clearly to reach the overbought areas.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which targets 1.3000 followed by 1.2960 levels mainly, reminding you that it is important to hold below 1.3180 to continue the expected decline.
The expected trading range for today is between 1.2990 support and 1.3130 resistance.
The expected trend for today: Bearish
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