The USDCAD retests – Analysis - 08-01-2020
Economies.com
2020-01-08 05:21AM UTC
The USDCAD pair provided clear positive trades yesterday to test 1.3015 level and bounced bearishly from there, as the EMA50 formed solid resistance barrier against the price, noticing that stochastic provides negative signals now.
Therefore, we believe that the chances valid to achieve more decline in the upcoming sessions, and the targets begin at 1.2925 followed by 1.2860, reminding you that holding below 1.3015 and 1.3050 levels is important to continue the expected decline.
The expected trading range for today is between 1.2900 support and 1.3015 resistance.
The expected trend for today: Bearish
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