Forex

The USDCAD rallies downwards – Analysis - 21-01-2021

2021-01-21 05:00:38 GMT (Economies.com)

The USDCAD pair traded with strong negativity yesterday to break 1.2688 and approaches 1.2600 barrier, which supports the continuation of the expected bearish trend scenario efficiently for the upcoming sessions, and the way is open to head towards our waited negative target at 1.2475.

 

The EMA50 continues to support the expected bearish wave, noting that holding below 1.2688 represents key condition to continue the suggested decline.

 

The expected trading range for today is between 1.2540 support and 1.2688 resistance.

The expected trend for today: Bearish

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