The USD/CAD faces solid support – Analysis – 21/01/2022

news_22_feb_cad_usd_1The USDCAD pair attempted to break 1.2480 level again that keeps forming solid support against the price, to rebound upwards and test the EMA50, as it forms solid resistance against the price, accompanied by stochastic loss to the positive momentum clearly.

Therefore, we believe that the chances valid to resume the negative trading that its targets begin by breaking 1.2480 to open the way to head towards 1.2370, reminding you that it is important to hold below 1.2590 to continue the expected decline.

The expected trading range for today is between 1.2440 support and 1.2590 resistance.

The expected trend for today: Bearish

Origin: Economies

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