The USDCAD reaches the target – Analysis - 22-11-2022

The USDCAD pair traded with clear positivity yesterday to reach few pips away from our waited target at 1.3500, showing some bearish bias now, as it found solid resistance at the mentioned level, and trades might confine between the mentioned resistance and 1.3350 support until the price manages to surpass one of these levels followed by determining its next destination clearly.

Therefore, we will stay neutral now until we get clearer signal for the next trend, noting that breaching 1.3500 resistance will lead the price to achieve additional gains that reach 1.3680, while breaking 1.3350 support will press on the price to decline again and head towards 1.3205 as a next negative station.

The expected trading range for today is between 1.3350 support and 1.3510 resistance.

The expected trend for today: Neutral