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

2020-08-05 03:57:10 GMT (

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

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