USDCAD resumes the decline – Analysis - 18-01-2017
Economies.com
2017-01-18 04:19AM UTC
The USDCAD pair bounced lower strongly after retesting the previously broken support of the bullish channel, approaching from our main waited target at 1.2985, keeping the bearish trend scenario dominant on the upcoming trading.
Therefore, we wait for more of the downside moves for today, and monitoring the price behavior when reaching the targeted level is important, where breaking it represents the extension key for the bearish wave to target 1.2761 levels as a next main station, while the bearish trend will remain valid unless breaching 1.3190 level and holding above it.
Expected trading range for today is between 1.2960 support and 1.3150 resistance.
Expected trend for today: Bearish
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