USDCAD under the negative pressure – Analysis - 02-11-2018
Economies.com
2018-11-02 05:00AM UTC
The USDCAD pair could not manage to hold for long time above 1.3128, to decline and settles below the EMA50, which makes us stay aside again, due to the contradiction between the technical factors, and the price needs to surpass one of the key levels represented by 1.3060 support and 1.3128 resistance to detect its next destination clearly.
Note that breaking the mentioned support will press the price to achieve more decline that targets 1.2923 level mainly, while breaching the resistance will motivate the price to regain the positive scenario that its next targets located at 1.3200 followed by 1.3382.
Expected trading range for today is between 1.3000 support and 1.3180 resistance.
Expected trend for today: Neutral
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