The USDCAD tests the resistance – Analysis - 22-10-2021
1 year ago

The USDCAD pair resumes its negative trades clearly to move away from 1.2365, reinforcing the expectations of continuing the bearish trend, which gets continuous support by the EMA50 that presses negatively on the price, and the way is open to achieve our waited target at 1.2230.


On the other hand, we should note that breaching 1.2365 will stop the negative scenario and lead the price to start recovery attempts on the intraday and short term basis.



The expected trading range for today is between 1.2290 support and 1.2420 resistance.

The expected trend for today: Bearish

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