Forex

The USDCAD hits the first target – Analysis - 06-08-2020

2020-08-06 03:56:12 GMT (Economies.com)

The USDCAD pair managed to achieve our first target at 1.3270 and presses negatively on it, reinforcing the expectations of continuing the bearish trend in the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that our next station is located at 1.3200.

 

Stochastic loses its positive momentum clearly to support the expectations to decline, which will remain valid unless breaching 1.3362 level and holding above it.

 

The expected trading range for today is between 1.3200 support and 1.3340 resistance.

The expected trend for today: Bearish

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