The USDCAD needs negative motive – Analysis - 07-06-2022
Economies.com
2022-06-07 04:08AM UTC
The USDCAD pair returns to test 1.2605 resistance and still below it until now, noticing that stochastic loses the positive momentum again, while the EMA50 keeps pressing negatively on the price.
Therefore, these factors encourage us to suggest the bearish trend for the upcoming period, which its next targets located at 1.2500 followed by 1.2460 levels, noting that breaching 1.2605 will lead the price to start recovery attempts and achieve gains that start by visiting 1.2695 areas.
The expected trading range for today is between 1.2500 support and 1.2640 resistance.
The expected trend for today: Bearish
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