Forex

The USDCAD within sideways track – Analysis - 04-08-2020

2020-08-04 03:46:00 GMT (Economies.com)

The USDCAD pair provided positive trades yesterday but it returns to decline and settle below the EMA50, which keeps our bearish overview valid for the upcoming period, supported by the EMA50 that presses negatively on the price, waiting to break 1.3362 to confirm opening the way to visit 1.3270 as a next station.

 

On the other hand, we should note that breaching 1.3450 will stop the expected decline and leads the price to turn to rise.

 

The expected trading range for today is between 1.3300 support and 1.3450 resistance.

The expected trend for today: Bearish

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