USDCAD attacks the resistance – Analysis - 23-02-2018
Economies.com
2018-02-23 05:27AM UTC
The USDCAD pair rallied upwards to start the attempts to breach the key resistance 1.2717, settling around this level now, noticing that stochastic gets rid of its negative momentum clearly to approach the oversold areas, while the EMA50 provides positive support to the price.
Therefore, these factors encourage us to suggest more rise in the upcoming period, and the price needs to breach the mentioned resistance to open the way to head towards 1.2923, taking into consideration that breaking 1.2625 will stop the positive overview and push the price to test 1.2463 areas initially.
Expected trading range for today is between 1.2625 support and 1.2800 resistance.
Expected trend for today: Bullish
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