The USDCAD tests the resistance – Analysis - 07-08-2020
Economies.com
2020-08-07 04:13AM UTC
The USDCAD pair trades with clear positivity to test the key resistance 1.3362, accompanied by stochastic entering the overbought areas, noticing that the EMA50 meets the mentioned resistance to add more strength to it.
Therefore, we believe that the chances valid to rebound bearishly and resume the main bearish trend, which targets 1.3200 as a next main station, while breaching 1.3362 represents positive factor that will lead the price to turn rise on the intraday basis.
The expected trading range for today is between 1.3280 support and 1.3420 resistance.
The expected trend for today: Bearish
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