The USDCAD touches the target – Analysis - 28-03-2022
10 months ago

The USDCAD pair succeeded to touch our waited target at 1.2480 and presses negatively on it, to support the chances of extending the correctional bearish wave, noting that breaking this level will push the price to visit 1.2370 direct.


Therefore, we expect the continuation of the bearish bias in the upcoming sessions supported by the negative pressure formed by the EMA50, taking into consideration that the consolidation of 1.2480 level against the current negative pressure might push the price to test 1.2590 areas before any new attempt to decline.


The expected trading range for today is between 1.2410 support and 1.2550 resistance.

The expected trend for today: Bearish

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