The USDCAD presses on the recent low – Analysis - 15-03-2021
Economies.com
2021-03-15 05:09AM UTC
The USDCAD pair resumed its negative trades in the previous sessions to start pressing on the recently recorded low at 1.2468, reinforcing the expectations of continuing the bearish trend on the intraday and short-term basis, which its next target located at 1.2415.
Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the EMA50, taking into consideration that failing to break 1.2468 will lead the price to start recovery attempts that target testing 1.2565 followed by 1.2635 areas before any new attempt to decline.
The expected trading range for today is between 1.2400 support and 1.2530 resistance.
The expected trend for today: Bearish
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