USDCAD gathers the positive momentum – Analysis - 09-10-2017

The USDCAD pair shows some slight bearish bias after reaching 1.2600 barrier in the past sessions, to approach from testing the key support base 1.2470, noticing that stochastic managed to get rid of its negativity and gain the positive momentum on the four hours' time frame, while the EMA50 provides continuous positive support to the price.

Therefore, these factors support the chances of continuing the correctional bullish trend in the upcoming period, which its next target located at 1.2723, noting that holding above 1.2470 represents key condition to continue the expected rise.

Expected trading range for today is between 1.2470 support and 1.2630 resistance.

Expected trend for today: Bullish