USDCAD returns to the channel – Analysis - 05-12-2018
Economies.com
2018-12-05 05:16AM UTC
The USDCAD pair had enough touching 1.3160 level in the previous sessions and bounced upwards strongly to trade inside the bullish channel again, which reactivate the bullish trend scenario on the short term basis, supported by moving above the EMA50.
Therefore, we are waiting for more rise in the upcoming sessions, and the next main target is located at 1.3382, noting that the continuation of the expected bullish bias depends on the price stability above 1.3240.
Expected trading range for today is between 1.3220 support and 1.3380 resistance.
Expected trend for today: Bullish
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