USDCAD continues to fluctuate – Analysis - 17-08-2018

The USDCAD pair fluctuates at the bearish channel’s resistance that appears on the chart, which declines now to 1.3170, and as we mentioned yesterday, this level represents one of the next trend keys besides 1.3010 support, waiting to breach one of these levels to confirm the next trend, as the technical factors still contradicted until now.

Therefore, our neutrality will remain valid until now, reminding you that breaching the mentioned resistance will push the price to target 76.4% Fibonacci correction level at 1.3382 on the near term basis, while breaking the support will put the price under negative pressure that its main targets begin at 1.2923.

Expected trading range for today is between 1.3060 support and 1.3230 resistance.

Expected trend for today: Depends on the above mentioned levels