USDCAD loses momentum – Analysis - 15-02-2017
Economies.com
2017-02-15 05:50AM UTC
The USDCAD pair shows slight bullish bias after approaching from 1.3000 barrier yesterday, where the EMA50 forms good resistance barrier against the intraday trading, while stochastic loses its positive momentum gradually to reach the thresholds of the overbought levels.
Therefore, we believe that the chances available for bouncing lower and resuming the main bearish trend, and its main targets begin at 1.2985 and extend to 1.2700, being aware that breaching 1.3135 will stop the expected decline temporarily and leads the price to test 1.3310 levels before any new attempt to decline.
Expected trading range for today is between 1.2950 support and 1.3135 resistance.
Expected trend for today: Bearish
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