The USDCAD under the negative pressure – Analysis - 05-05-2022
Economies.com
2022-05-05 04:18AM UTC
The USDCAD pair faced strong negative pressure yesterday, as it broke 1.2810 level and touched 1.2725 direct, attempting to break this level now, which hints heading to achieve more expected decline in the upcoming period, as breaking the last level represents the key to rally towards 1.2650 followed by 1.2590 areas as next negative stations.
Therefore, the bearish bias will be suggested for today, taking into consideration that failing to break 1.2725 will lead the price to rebound bullishly and start new bullish wave.
The expected trading range for today is between 1.2650 support and 1.2790 resistance.
The expected trend for today: Bearish
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