The USDCAD tests the channel’s support – Analysis - 06-12-2021
Economies.com
2021-12-06 05:05AM UTC
The USDCAD pair faced temporary negative pressure in the previous sessions to lean on the bullish channel’s support line and rebounds upwards clearly from there, to resume the main bullish track, waiting for more rise to test 1.2950 level that represents our next main target.
Therefore, the bullish trend will remain valid for the upcoming period supported by the EMA50, noting that the continuation of the bullish wave requires holding above 1.2780 and the most important above 1.2725.
The expected trading range for today is between 1.2760 support and 1.2900 resistance.
The expected trend for today: Bullish
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