The USD/CAD breaks the support – Analysis — 30/07/2020

The USDCAD pair managed to break 1.3362 and hold with a daily close below it, which supports the continuation of our bearish overview efficiently in the upcoming period, paving the way to head towards 1.3270 that represents our next main target.

Therefore, we are waiting for more decline on the intraday and short term basis, noting that holding below 1.3375 represents the first condition to continue the suggested bearish wave.

The expected trading range for today is between 1.3260 support and 1.3400 resistance.

The expected trend for today: Bearish

Origin: Economies


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