Morning Report

The USDCAD pair is still hovering around 1.0000 which is the key support level while SMA 50 is continuing its negative pressure which makes us expect the continuation of the bearish intraday direction for today with targets starting with 0.9925 then 0.9815. we may witness some volatility till we get enough momentum that support the expected decline.

The trading range for today is among the key support at 0.9815 and the key resistance at 1.0160.

The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0000 targeting 0.9815 and stop loss above 1.0125, might be appropriate.