USDCAD heads towards the resistance – Analysis - 24-08-2018

The USDCAD pair continues to rise to gradually approach the key resistance that declines now to 1.3145, and as we mentioned in our recent reports, the price needs to breach one of the key levels represented by the mentioned resistance and 1.3030 support to detect its next targets clearly, which keeps our neutrality valid until now.

Note that breaching the mentioned resistance will provide strong positive motive that supports the chances of achieving gains that reach 1.3382 mainly, while breaking the support is considered as breaking to the medium term bullish trend line, to put the price under negative pressure that its main targets begin by testing 1.2923 level.

Expected trading range for today is between 1.3000 support and 1.3180 resistance.

Expected trend for today: Depends on the above mentioned levels