The USDCAD resumes rising – Analysis - 28-01-2020

The USDCAD pair succeeded to achieve our first waited target at 1.3180 and breached it to settle above it now, which supports the continuation of the bullish trend scenario efficiently in the upcoming period, and the way is open to achieve our next target at 1.3233, noting that surpassing this level will push the price to visit the previously recorded high at 1.3320.

Therefore, the bullish bias will remain suggested for today, noting that holding above 1.3180 represents initial condition to continue the expected rise.

The expected trading range for today is between 1.3100 support and 1.3230 resistance.

The expected trend for today: Bullish