Forex

The USDCAD keeps its negative stability – Analysis - 23-10-2020

2020-10-23 04:01:00 GMT (Economies.com)

The USDCAD pair shows some slight bearish bias to hint heading to resume the recently suggested bearish trend scenario, supported by the negative pressure formed by the EMA50, waiting to head towards 1.3035 followed by 1.2960 levels that represent our next main targets.

 

On the other hand, we should note that breaching 1.3175 will stop the expected decline and leads the price to achieve intraday gains that target 1.3240 followed by 1.3362 levels mainly.

 

The expected trading range for today is between 1.3090 support and 1.3200 resistance.

The expected trend for today: Bearish

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