Forex

The USDCAD crawls downwards – Analysis - 06-07-2020

2020-07-06 04:28:27 GMT (Economies.com)

The USDCAD pair trades with calm negativity to move away from 1.3612 level, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, as it approaches the first waited target at 1.3500, which breaking it represents the key to extend the bearish wave towards 1.3362.

 

Therefore, we will continue to suggest the bearish trend supported by the EMA50 conditioned by the price stability below 1.3612 and 1.3650.

 

The expected trading range for today is between 1.3450 support and 1.3600 resistance.

The expected trend for today: Bearish

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