The USDCAD price reaches the target – Forecast today - 16-04-2024
Economies.com
2024-04-16 03:57AM UTC
USDCAD Price Analysis
Expected Scenario
- The USDCAD price continues to rise to reach the thresholds of the awaited target at 1.3825$, and we expect the continuation of the bullish bias on the intraday and short-term basis to achieve additional gains that reach 1.3900$ barrier as a next main station.
- Therefore, the bullish trend scenario will remain valid for the upcoming period, it might be preceded by some sideways fluctuation affected by stochastic negativity, noting that breaking 1.3760$ will put the price under temporary correctional bearish pressure before turning back to rise again.
Expected Outcome
The expected trading range for today is between 1.3750$ support and 1.3890$ resistance.
Trend Forecast: Bullish
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