The USD/CAD presses on the support – Analysis – 06/08/2021

usd-cadThe USDCAD pair traded with clear negativity yesterday to attack 1.2500 level, but it keeps its stability above it now, which keeps the positive scenario active for the upcoming period, supported by stochastic positivity, waiting to head towards 1.2615 as a next main station.

On the other hand, we should note that breaking 1.2500 and holding below it will press on the price to return to the correctional bearish track that targets 1.2410 initially.

The expected trading range for today is between 1.2460 support and 1.2580 resistance.

The expected trend for today: Bullish

Origin: Economies

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