Forex

The USDCAD breaks the support – Analysis - 05-08-2020

2020-08-05 03:57:10 GMT (Economies.com)

The USDCAD pair succeeded to break 1.3362 to decline strongly and approaches our first waited target at 1.3270, which supports the continuation of the expected bearish trend on the intraday and short term basis, which its next target located at 1.3200.

 

Therefore, we are waiting for more decline in the upcoming sessions, noting that holding below 1.3362 and 1.3395 levels represents key condition to continue the suggested bearish bias.

 

The expected trading range for today is between 1.3200 support and 1.3360 resistance.

The expected trend for today: Bearish

More Analysis

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.