The USDCAD price keeps rising – Forecast today - 17-04-2024
Economies.com
2024-04-17 03:34AM UTC
USDCAD Price Analysis
Expected Scenario
- The USDCAD price provided additional positive trades to touch the awaited target at 1.3825$ and attempts to breach it, facing solid resistance formed by the bullish channel’s resistance line. It might show some temporary bearish bias before turning back to rise again.
- The price needs to breach 1.3835$ to confirm extending the bullish wave towards 1.3900$, which receives continuous support from the EMA50. Holding above 1.3760$ is important to continue the expected rise. Breaking it will push the price to achieve some bearish correction, possibly heading towards 1.3705$ followed by 1.3660$ initially before any new positive attempt.
Expected Trading Range
Between 1.3750$ support and 1.3890$ resistance.
Trend Forecast: Bullish
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