The USDCAD price attempts to break – Forecast today - 05-04-2024
Economies.com
2024-04-05 01:35AM UTC
USDCAD Price Analysis
Expected Scenario
- The USDCAD price attempted to breach 1.3505$ but bounced upwards strongly by yesterday’s close.
- The sideways bias remains dominant on the intraday basis until the price confirms breaching 1.3606$ resistance or breaking 1.3505$ support.
- Breaking the mentioned resistance will lead the price to continue the main bullish trend and target 1.3700$ areas as the next positive station.
- Breaking the support will push the price to achieve additional bearish correction with the next target reaching 1.3440$.
Expected Trading Range
- Between 1.3480$ support and 1.3620$ resistance.
Trend Forecast: Sideways
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