USDCAD attempts positively – Analysis - 25-09-2018
The USDCAD pair provided positive trading yesterday to breach 1.2923 level and settles above it, noticing that the rise stops now at the EMA50 that forms negative pressure against the price, accompanied by witnessing clear overbought signals through stochastic.
Therefore, we believe that the chances are valid to rebound bearishly and resume the bearish bias in the upcoming sessions, and the price needs to break 1.2923 level again to reinforce the expectations of heading towards 1.2717 that represents our first main target, noting that breaching 1.2970 will stop the expected decline and push the price to rise towards 1.3128 mainly.
Expected trading range for today is between 1.2860 support and 1.3000 resistance.
Expected trend for today: Bearish
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