USDCAD keeps declining – Analysis - 11-05-2018
Economies.com
2018-05-11 04:07AM UTC
The USDCAD pair shows more decline to approach our waited target at 1.2717, falling under negative pressure coming by the EMA50, to support the chances of breaking the mentioned level followed by extending the bearish wave towards 1.2605 as a next station.
Therefore, we expect the continuation of the bearish bias in the upcoming period unless the price rallied upwards to breach 1.2840 followed by 1.2923 levels and hold above them.
Expected trading range for today is between 1.2680 support and 1.2840 resistance.
Expected trend for today: Bearish
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