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USDCAD faces the psychological barrier – Analysis - 07-03-2018
The USDCAD pair bounced downwards clearly yesterday after testing the psychological barrier at 1.3000, to move below 1.2923 level, but it begins today with clear bullish bias to surpass the mentioned level, as the price gets positive support by the EMA50, besides that stochastic provides positive signal on the four hours’ time frame.
Therefore, these factors encourage us to suggest the bullish bias for today, and the next target is located at 1.3030, taking into consideration that failing to hold above 1.2923 will push the price to visit 1.2717 level before any new attempt to rise.
Expected trading range for today is between 1.2855 support and 1.3030 resistance.
Expected trend for today: Bullish
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