USDCAD begins positively – Analysis - 23-08-2018

The USDCAD pair attempted to break the bullish trend line yesterday, but it begins today with bullish bias to move above it again, which keeps the price stuck between the trend keys represented by 1.3020 support and 1.3155 resistance, to continue with our neutrality until now.

The contradiction between stochastic positivity and the EMA50 negativity provides another reason for neutrality, noting that breaking the above mentioned support will put the price under negative pressure that its targets begin at 1.2923, while breaching the resistance will motivate the price to achieve positive targets that reach 1.3382 on the near term basis.

Expected trading range for today is between 1.2940 support and 1.3120 resistance.

Expected trend for today: Depends on the above mentioned levels