The USDCAD reaches the target – Analysis - 28-12-2021
Economies.com
2021-12-28 04:39AM UTC
The USDCAD pair managed to reach the bullish channel’s support line that appears on the chart, accompanied by stochastic reach to the oversold areas, and according to the trading rules inside the channels, we expect to start bouncing bullishly to resume the main bullish trend, on its way to achieve positive targets that start at 1.2950 and extend to 1.3075.
Therefore, the bullish bias will remain suggested for the upcoming period, noting that breaking 1.2770 followed by 1.2725 levels will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1.2740 support and 1.2870 resistance.
The expected trend for today: Bullish
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