USDCAD tests the support – Analysis - 23-03-2017
Economies.com
2017-03-23 04:50AM UTC
The USDCAD pair returns to test the critical support at 1.3310 after it succeeded to settle below the previously broken support level for the bullish channel that appears in the image, therefore, we believe that the chances available for breaking the mentioned support then confirm the extension of the bearish wave on the short term basis, where its next main target located at 1.2985.
Therefore, we wait for negative trading for today, taking into consideration that breaching 1.3400 level will stop the suggested negative scenario and leads the price to recover.
Expected trading range for today is between 1.3200 support and 1.3400 resistance.
Expected trend for today: Bearish
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