The USD/CAD touches the target – Analysis – 14/01/2022

usd-cadThe USDCAD pair succeeded to touch our waited target at 1.2480 and found solid support therefore, to show some slight bullish bias, noticing that stochastic shows clear overbought signals now, to expect motivating the price to resume the negative trades and break the mentioned level to head towards 1.2370 as a next target.

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1.2590 and 1.2625 levels.

The expected trading range for today is between 1.2420 support and 1.2570 resistance.

The expected trend for today: Bearish

Origin: Economies

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