USDCAD heads towards the resistance – Analysis - 19-04-2017

The USDCAD pair traded with clear positivity yesterday to approach from testing the critical resistance that rises now to 1.3430, which represents one of the next trend keys besides 1.3265 support, where the price needs to breach one of these levels to detect its next targets clearly, therefore, we remain neutral until getting clearer confirmation signal for the next trend.

Reminding you that breaching the mentioned resistance will push the price to continue the bullish correctional track that its next targets begin at 1.3574, while breaking 1.3265 will push the price to regain the long term bearish trend, which its negative targets begin at 1.2985 and extend to the previously recorded bottom at 1.2459.

Expected trading range for today is between 1.3300 support and 1.3500 resistance.

Expected trend for today: Neutral