The USDCAD presses on the support – Analysis - 09-04-2020
Economies.com
2020-04-09 04:29AM UTC
The USDCAD pair continues the attempts to break 1.4015 and closed yesterday below this level, which keeps the bearish trend scenario valid and active for the upcoming period, waiting to visit 1.3813 level that represents our next correctional target.
The EMA50 continues to support moving inside the bearish channel that appears on the chart, to continue suggesting the bearish bias on the intraday and short term basis, noting that holding below 1.4105 represents the first condition to continue the suggested decline.
The expected trading range for today is between 1.3920 support and 1.4100 resistance.
The expected trend for today: Bearish
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