The USD/CAD resumes the decline – Analysis – 14/10/2021

usd-cadThe USDCAD pair trades negatively to move away from 1.2495 level, reinforcing the expectations of continuing the bearish trend, and the way is open to visit 1.2365 that represents our next correctional station.

Therefore, the bearish bias will remain dominant and suggested for the upcoming sessions, supported by the EMA50 that presses negatively on the price, noting that breaking the targeted level will extend the bearish wave to reach 1.2230, while holding below 1.2495 represents key condition to continue the expected decline.

The expected trading range for today is between 1.2365 support and 1.2480 resistance.

The expected trend for today: Bearish

Origin: Economies

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