USDCAD attempts positively – Analysis - 11-07-2018

Economies.com
2018-07-11 03:58AM UTC

The USDCAD pair could not manage to break the bullish channel’s support line, to start today with bullish bias and move above 1.3128 level, which urges caution from the upcoming trading, as holding above this level will push the price to rise again and opens the way to head towards 1.3382 mainly.

 

Therefore, we prefer staying aside temporarily in order to monitor the price behavior according to 1.3128 and 1.3065 levels, noting that holding above the first level will confirm the continuation of the rise in the upcoming period, while breaking 1.3065 will press the price to decline and target 1.2923 level initially.

 

Expected trading range for today is between 1.3040 support and 1.3230 resistance.

 

Expected trend for today: Neutral

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