USDCAD under the negative pressure – Analysis - 04-12-2017
Economies.com
2017-12-04 04:59AM UTC
The USDCAD pair traded with strong negativity on last Friday after approaching 1.2927 level, to break key support levels starting at 1.2820 then 1.2723 and settles below the last level, which puts the price under negative pressure that we expect to push trading to resume the main bearish trend again.
Therefore, the bearish trend will remain suggested on the intraday and short term basis, and breaking 1.2665 will confirm opening the way to head towards 1.2470 as a next main station, while breaching 1.2723 represents positive factor that will push the price to start new recovery attempts.
Expected trading range for today is between 1.2620 support and 1.2800 resistance.
Expected trend for today: Bearish
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