The USDCAD returns to test the resistance – Analysis - 02-04-2020

Economies.com
2020-04-02 04:51AM UTC

The USDCAD pair provided new clear positive trades to test the key resistance 1.4264, noticing that this level formed solid obstacle against the price’s positive attempts, to start bouncing bearishly on its way for potential visit to 1.4015 in the upcoming sessions.

 

Therefore, the bearish trend scenario will remain suggested on the intraday and short term basis, reminding you that breaking the targeted level will push the price to 1.3813 as a next correctional level, while the expected decline will remain valid conditioned by the price stability below 1.4264.

 

The expected trading range for today is between 1.4060 support and 1.4250 resistance.

The expected trend for today: Bearish

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