The USDCAD returns to test the resistance – Analysis - 06-04-2020
Economies.com
2020-04-06 05:00AM UTC
The USDCAD pair returns to test the key resistance 1.4264 by today’s open, but it begins to rebound bearishly and move away from this level, which keeps the bearish trend scenario valid on the intraday and short term basis, and the price needs to surpass the EMA50 to ease the mission of heading towards our first negative target at 1.4015.
Therefore, our bearish overview will remain valid in the upcoming sessions unless the price rallied to breach 1.4264 level and hold above it.
The expected trading range for today is between 1.4050 support and 1.4264 resistance.
The expected trend for today: Bearish
Forex and Currency News
Forex
Yen gains ground as US treasury yields dip
2024-05-16 04:20AM UTC
Yen rose in Asian trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
US Dollar extends losses after inflation data
2024-05-15 20:25PM UTC
The US dollar fell against most major rivals on Wednesday, extending losses after the release of US ...
Forex
US consumer prices miss estimates in April
2024-05-15 12:39PM UTC
US consumer prices rose 0.3% m/m in April, missing estimates of a 0.4% ...
Forex Technical Analysis
Forex
The NZDCAD regains the bullish track – Forecast today – 16-5-2024
2024-05-16 05:41AM UTC
NZDCAD Price Analysis Expected Scenario The NZDCAD price succeeded in regaining the ...
Forex
The EURJPY under the correctional effect – Forecast today – 16-5-2024
2024-05-16 05:38AM UTC
EURJPY Pair Analysis Expected Scenario The EURJPY pair provided a new negative close ...
Forex
The GBPJPY hovers around the correctional target – Forecast today – 16-5-2024
2024-05-16 05:37AM UTC
GBPJPY Pair Analysis Expected Scenario The GBPJPY pair activated the correctional ...