USDCAD surpasses the first target – Analysis - 10-04-2018

The USDCAD pair succeeded to achieve our first target at 1.2717 yesterday and broke it to close the daily candlestick below it, which supports the continuation of our bearish overview efficiently for the upcoming period, opening the way to extend the bearish wave towards our next targets that reach 1.2500 followed by 1.2463.

Therefore, the bearish trend will remain dominant on the intraday and short term basis, noting that breaching 1.2717 might push the price to achieve some gains that reach 1.2827 followed by 1.2923 before any new attempt to decline.

Expected trading range for today is between 1.2580 support and 1.2750 resistance.

Expected trend for today: Bearish