The USDCAD confirms the break – Analysis - 10-04-2020
Economies.com
2020-04-10 05:03AM UTC
The USDCAD pair succeeded to confirm breaking 1.4015 level after closing the daily candlestick below it, reinforcing the continuation of the expected bearish trend scenario for the upcoming period efficiently, and the way open to head towards 50% Fibonacci correction level at 1.3813.
Therefore, we are waiting for more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 1.4015 followed by 1.4075 levels will stop the expected decline and leads the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 1.3850 support and 1.4015 resistance.
The expected trend for today: Bearish
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