The USDCAD under the negative pressure – Analysis - 03-03-2021
Economies.com
2021-03-03 05:10AM UTC
The USDCAD pair bounced downwards clearly after testing 1.2700 barrier, to break 1.2640 and settles below it, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that we expect to push the price to achieve more decline in the upcoming sessions, targeting heading towards 1.2525 initially.
Therefore, the bearish bias will be suggested for today conditioned by the price stability below 1.2670.
The expected trading range for today is between 1.2550 support and 1.2700 resistance.
The expected trend for today: Bearish
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