The USDCAD touches the first target – Analysis - 04-11-2020
Economies.com
2020-11-04 05:18AM UTC
The USDCAD pair succeeded to touch our first waited negative target at 1.3110 and bounced upwards strongly from there to test the key resistance 1.3240, and the price needs to hold below this level as a first protection factor to the continuation of the expected bearish trend scenario for the upcoming period, which its targets extend to 1.2960 after surpassing the first target.
Therefore, we will continue to suggest the bearish trend on the intraday basis, noting that breaching 1.340 will push the price to test 1.3362 before any new attempt to decline.
The expected trading range for today is between 1.3100 support and 1.3330 resistance.
The expected trend for today: Bearish
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