The USDCAD returns to the resistance – Analysis - 10-07-2020
Economies.com
2020-07-10 04:25AM UTC
The USDCAD pair traded with clear positivity yesterday to test the key resistance 1.3612 again, settling below it now, accompanied by stochastic loss to the positive momentum and entering the overbought areas, waiting to motivate the price to rebound bearishly to resume the main bearish trend, which its next target located at 1.3362.
Until now, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.3612 level and holding above it, as breaching this level will lead the price to achieve additional gains that start at 1.3700 and extend to 1.3813.
The expected trading range for today is between 1.3500 support and 1.3660 resistance.
The expected trend for today: Bearish
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