The USDCAD under the negative pressure – Analysis - 22-11-2019
Economies.com
2019-11-22 05:56AM UTC
The USDCAD pair traded negatively yesterday to break 1.3295 level and settles below it, but we notice that the EMA50 provides the positive support to the price, while stochastic reaches the oversold areas.
Therefore, these factors encourage us to suggest the bullish bias today, and the price needs to breach 1.3295 to confirm the continuation of the positive trading towards 1.3380 areas, taking into consideration that failing to achieve the required breach will press on the price to decline and test 1.3200 areas and might extend to 1.3155 before any new attempt to rise.
The expected trading range for today is between 1.3230 support and 1.3360 resistance.
The expected trend for today: Bullish
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