USDCAD keeps its positive stability – Analysis - 28-04-2017

The USDCAD pair retested 1.3574 yesterday and kept its stability above it, to resume its positive trading and attempts to build support base above 1.3600 barrier, which reinforce the expectations of more rise in the upcoming period, and the way is open to head towards 1.3837, which represents 61.8% Fibonacci correction level for the decline measured from 1.4688 to 1.2459.

Therefore, the positive scenario will remain valid on the intraday and short term basis, reminding you that breaking 1.3574 will put the price under negative pressure that its targets begin at 1.3455 and might extend to 1.3310 on the near term basis.

Expected trading range for today is between 1.3574 support and 1.3750 resistance.

Expected trend for today: Bullish