USDCAD is stable – Analysis - 16-01-2017
Economies.com
2017-01-16 05:10AM UTC
The USDCAD pair settles around 1.3140 level, keeping its stability below the previously broken support of the bullish channel that turns into key resistance now at 1.3185, which keeps the negative scenario valid until now, supported by the negative pressure formed by the EMA50.
Therefore, we are waiting for more decline in the upcoming period, and the main target is represented by testing 1.2985, noting that breaching 1.3140 level will stop the current decline temporarily and lead trading to visit 1.3310 level before any new negative attempt.
Expected trading range for today is between 1.3020 support and 1.3220 resistance.
Expected trend for today: Bearish
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