USDCAD breaks the support – Analysis - 13-04-2017
Economies.com
2017-04-13 04:20AM UTC
The USDCAD pair traded with clear negativity yesterday to break 1.3265 level and closed the daily candlestick close below it, which activates the negative scenario on the intraday and short term basis, where the price completed forming double top pattern that has negative targets that reach to 1.2985.
Therefore, we prefer the continuation of the decline in the upcoming period, supported by the negative pressure that formed by the EMA50, being aware that breaching 1.3265 then 1.3310 levels will stop the negative expectations and lead the price to recovery attempts that its main targets begin by testing 1.3400 level.
Expected trading range for today is between 1.3100 support and 1.3310 resistance.
Expected trend for today: Bearish
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