The USDCAD tests the resistance – Analysis - 26-02-2019
Economies.com
2019-02-26 05:35AM UTC
The USDCAD pair traded with clear positivity yesterday to test the key resistance 1.3205 and settles there, noticing that the EMA50 meets this resistance to add more strength to it, accompanied by stochastic reach to the overbought areas.
Therefore, these factors encourage us to expect the bearish rebound from the current areas to resume the bearish trend that targets 1.3128 followed by 1.3075 levels mainly, while its continuation conditions holding below 1.3205.
The expected trading range for today is between 1.3100 support and 1.3250 resistance.
The expected trend for today: Bearish
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