The USDCAD tests the resistance – Analysis - 29-03-2022
1 year ago

The USDCAD pair provided strong positive trades yesterday after the consolidation of 1.2480 level against the negative pressure, to touch the key resistance 1.2590 and bounces bearishly from there, as the EMA50 formed solid resistance against the price, to resume the bearish track and head towards testing 1.2480 again, waiting to break this level to confirm rallying towards 1.2370 as a next negative target.


Therefore, the main bearish scenario will remain valid conditioned by the stability below the mentioned resistance.



The expected trading range for today is between 1.2440 support and 1.2590 resistance.

The expected trend for today: Bearish

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