USDCAD achieves intraday gains – Analysis - 16-05-2018
Economies.com
2018-05-16 03:11AM UTC
The USDCAD pair rallied upwards strongly to breach 1.2800 level and touch 1.2923 direct, noticing that this level formed solid resistance that forced the price to rebound bearishly, to keep the chances valid to resume the bearish bias in the upcoming sessions.
Therefore, we suggest witnessing negative trading today, and the targets begin at 1.2800 and extend to 1.2717, taking into consideration that breaching 1.2923 will stop the expected decline and push the price to head towards 1.3000 followed by 1.3128 levels as next main stations.
Expected trading range for today is between 1.2770 support and 1.2923 resistance.
Expected trend for today: Bearish
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