Forex

The USDCAD loses momentum – Analysis - 07-07-2020

2020-07-07 04:27:22 GMT (Economies.com)

The USDCAD pair continues to decline gradually and settles around 1.3500 level now, noticing that stochastic loses its positive momentum gradually, while the EMA50 forms continues negative pressure against the price.

 

Therefore, we believe that the chances valid to continue the decline in the upcoming sessions, which targets 1.3500 followed by 1.3362 levels as next main stations, noting that it is important to hold below 1.3612 and 1.3640 levels to achieve the suggested targets.

 

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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