USDCAD tests the key support. Analysis – 11/06/2018

news_22_feb_cad_usd_2The USDCAD pair tested the key support base 1.2923 and kept its stability above it, to start bouncing bullishly in attempt to move away from the mentioned level, noticing that stochastic reaches the oversold areas now.

Therefore, these factors encourage us to continue suggesting the bullish trend on the intraday and short term basis, which targets visiting 1.328 level as a next main station, noting that breaking 1.2923 level will put the price under negative pressure that its targets begin at 1.2865 and extend to 1.2717 after breaking the previous level.

Expected trading range for today is between 1.2900 support and 1.3050 resistance.

Expected trend for today: Bullish

USDCAD tests the key support – Analysis - 11-06-2018

Origin: Economies

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