The USDCAD surpasses the first target – Analysis - 08-06-2020
Economies.com
2020-06-08 04:32AM UTC
The USDCAD pair succeeded to achieve our first waited target at 1.3450 and surpassed it to approach the extended target at 1.3362. falling under continuous negative pressure coming by the EMA50, which supports the chances of breaking the last level and open the way to continue the decline on the short term and medium term basis.
Therefore, we suggest witnessing more negative trades in the upcoming sessions, noting that failing to surpass 1.3362 will lead the price to start recovery attempts that target testing 1.3612 areas initially.
The expected trading range for today is between 1.3330 support and 1.3500 resistance.
The expected trend for today: Bearish
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