Forex

The USDCAD achieves additional gains – Analysis - 27-10-2020

2020-10-27 04:00:22 GMT (Economies.com)

The USDCAD pair surpassed the resistance line that appears on the chart and approached the key resistance 1.3240, noticing that the price begins providing negative trades now, hinting the price head to resume the main bearish trend, supported by the negative signal provided by stochastic now.

 

Therefore, we believe that the way is open to continue the decline in the upcoming sessions, and the targets begin by breaking 1.3140 to open the way to head towards 1.3035 followed by 1.2960 levels, noting that breaching 1.3240 will push the price to achieve more gains and head towards 1.3362 before any new attempt to decline.

 

The expected trading range for today is between 1.311 support and 1.3240 resistance.

The expected trend for today: Bearish

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