The USDCAD loses momentum – Analysis - 22-01-2021
Economies.com
2021-01-22 05:16AM UTC
The USDCAD pair shows positive trades to approach testing the key resistance 1.2688, noticing that stochastic loses its positive momentum to show clear overbought signals, waiting to motivate the price to resume the main bearish trend, which its next target located at 1.2475.
The bearish channels continue to organize the suggested bearish wave, which will remain valid unless breaching 1.2688 and holding above it.
The expected trading range for today is between 1.2580 support and 1.2720 resistance.
The expected trend for today: Bearish
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