The USDCAD Rises – Analysis - 16-03-2023
The USDCAD pair couldn't stay below 1.3680 for long before rallying strongly upwards and returning to the bullish channel, reactivating the bullish wave and heading towards gains that begin at 1.3860 and extend to 1.3975.
As a result, we anticipate more bullish bias in the coming sessions, supported by the EMA50, which carries the price from below. However, breaking 1.3740 will put the price under negative pressure again, causing it to head towards testing 1.3680 initially, which represents a key level to detect the next trend, as breaking it will press the price to turn downward.
Today's trading range is predicted to be between 1.3680 support and 1.3840 resistance. The expected trend for today: Bullish.
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