The USDCAD tests the key resistance – Analysis - 09-01-2020
Economies.com
2020-01-09 05:54AM UTC
The USDCAD pair returns to rise to test the bearish channel’s resistance that appears on the chart, accompanied by stochastic entering the overbought areas again, waiting to motivate the price to rebound bearishly to resume the main bearish trend, which targets 1.2925 followed by 1.2860 levels mainly.
We should note that breaching 1.3050 and holding above it will stop the suggested negative scenario and leads the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 1.2950 support and 1.3100 resistance.
The expected trend for today: Bearish
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