USDUSD broke the 1.2723 level and closed the daily candlestick below it, which supports our continued bearish outlook for the coming period, opening the way for a continuation of the downside wave towards 1.2470 as the next major station. .
SMA 50 continues to support the expected bearish trend, which will remain intact unless 1.2723 - 1.2745 levels are breached and stability above it.
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The USD / CAD remains steady below 1.2723, with the negative effect of the double top pattern intact, supported by the negative pressure formed by SMA 50 against the price, as well as the stochastic loss of the positive momentum ****ually.
Therefore, these factors encourage us to maintain our bearish outlook for the coming sessions, with our next target at 1.2470, while stability below 1.2723 is the key condition for the continuation of the expected decline.
The trading range for today is expected among 1.2600 support and 1.2730 resistance