The USDCAD under the negative pressure – Analysis 06-10-2023

news_22_feb_cad_usd_1The USDCAD pair keeps declining to approach the key support 1.3680, accompanied by stochastic entering the oversold areas, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets 1.3820 mainly.

The EMA50 supports the price from below and reinforces the chances of continuing the suggested positive scenario, which will remain valid conditioned by the price stability above 1.3680.

The expected trading range for today is between 1.3650 support and 1.3800 resistance.

The expected trend for today: Bullish

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