The USDCAD shows mixed trades – Analysis - 28-10-2021
1 year ago

The USDCAD pair showed temporary rise yesterday but it declined strongly to reach 1.2300 barrier, noticing that the price begins today positively to settle above 1.2365 level again, facing contradicted technical factors, represented by stochastic positivity and the EMA50 negativity.


Therefore, we prefer to stay aside now until the price confirms its situation according to 1.2365 level, noting that holding above it will push the price to achieve intraday gains that target testing 1.2475 mainly, while trading below it will put the price under new negative pressure that its targets begin by visiting 1.2230 areas.


The expected trading range for today is between 1.2320 support and 1.2440 resistance.

The expected trend for today: Neutral

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