The USDCAD recovers – Analysis - 16-03-2023
Economies.com
2023-03-16 04:30AM UTC
The USDCAD pair couldn’t settle for long time below 1.3680, to rally upwards strongly and return to the bullish channel again, to reactivate the bullish wave and head towards achieving gains that start at 1.3860 and extend to 1.3975.
Therefore, we expect to witness more bullish bias in the upcoming sessions, supported by the EMA50 that carries the price from below, noting that breaking 1.3740 will put the price under the negative pressure again, to head towards testing 1.3680 initially, which represents key level to detect the next trend, as breaking it will press on the price to turn to decline.
The expected trading range for today is between 1.3680 support and 1.3840 resistance.
The expected trend for today: Bullish
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