USDCAD under the negative pressure – Analysis - 03-01-2017
Economies.com
2017-01-03 04:45AM UTC
The USDCAD pair broke the EMA50 and settled below it, which puts the price under more negative pressure that we believe it will push trading to test 1.3310 level before any new attempt to rise.
Therefore, the bearish bias will be suggested in the upcoming sessions supported by the EMA50 and stochastic negativity, noting that breaking the targeted level will extend the bearish wave to reach 1.3165 as a next main station, while breaching 1.3574 will lead the price to continue the correctional bullish track that its next target located at 1.3837.
Expected trading range for today is between 1.3300 support and 1.3500 resistance.
Expected trend for today: Bearish
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