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The USDCAD price loses momentum – Forecast today - 30-04-2024
USDCAD Price Analysis
The USDCAD price finds solid support at the 1.3660$ level, showing some slight bullish bias. However, stochastic loses its positive momentum clearly, while the EMA50 forms continuous negative pressure against the price.
Therefore, we expect the resumption of the bearish wave targeting 1.3620$ followed by 1.3565$ levels as the next stations. It's worth reminding that breaching 1.3760$ will stop the bearish wave and lead the price to return to the main bullish trend again.
Expected Trading Range
- Support: 1.3600$
- Resistance: 1.3720$
Trend Forecast
Bearish
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