Forex

The USDCAD rebounds from the resistance – Analysis - 19-01-2021

2021-01-19 05:22:45 GMT (Economies.com)

The USDCAD pair found difficulty to surpass the intraday bearish channel’s resistance, to rebound bearishly and resume the main bearish track, to approach 1.2688 level now, which makes us suggest the continuation of the decline and surpass the mentioned level to open the way to achieve more negative targets that reach 1.2475.

 

Holding below 1.2785 is important to continue the expected decline, as breaching it will push the price to achieve more bullish correction.

 

The expected trading range for today is between 1.2650 support and 1.2790 resistance.

The expected trend for today: Bearish

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