USDCAD gathers momentum – Analysis - 10-03-2017

The USDCAD pair continued its positive trading yesterday to breach 1.3500 level and close the daily candlestick above it, which supports the expectations of continuing the bullish trend, targeting testing 1.3574 level mainly, noting that the price begins today with some slight bearish bias affected by stochastic negativity that approaches from the oversold areas now, to gain positive momentum that we are waiting to assist to push the price to rise again.

Therefore, the bullish trend will remain suggested for today, noting that breaking 1.3420 level might push the price to test 1.3350 – 1.3310 levels before any new attempt to rise.

Expected trading range for today is between 1.3420 support and 1.3600 resistance.

Expected trend for today: Bullish