Forex

The USDCAD resumes the decline – Analysis - 17-04-2019

2019-04-17 03:34:51 GMT (Economies.com)

The USDCAD pair didn’t settle for long time above 1.3382 level, to bounce lower and resume the suggested bearish track in our last reports, which makes us prefer the continuation of the bearish trend on the intraday and short term basis that targets 1.3320 then 1.3128 levels as next main stations.

 

Surpassing the EMA50 now supports the negative expectations, which will remain active unless breaching 1.3382 level and holding with a daily close above it.

 

The expected trading range for today is between 1.3260 support and 1.3400 resistance.

The expected trend for today: Bearish

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