The USDCAD returns to test the resistance – Analysis - 06-04-2020
Economies.com
2020-04-06 05:00AM UTC
The USDCAD pair returns to test the key resistance 1.4264 by today’s open, but it begins to rebound bearishly and move away from this level, which keeps the bearish trend scenario valid on the intraday and short term basis, and the price needs to surpass the EMA50 to ease the mission of heading towards our first negative target at 1.4015.
Therefore, our bearish overview will remain valid in the upcoming sessions unless the price rallied to breach 1.4264 level and hold above it.
The expected trading range for today is between 1.4050 support and 1.4264 resistance.
The expected trend for today: Bearish
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