Canada’s Gross Domestic Product Unexpectedly fell and today RBC Manufacturing PMI will be released along with ISM Manufacturing PMI and Fed Interest Rate Decision in the US.
The pair is finding support at 1.33700 with resistance at 1.34070 which both lines are below the weekly pivot point at 1.34380. The EMA of 10 is moving with bearish bias in the descendant channel and it is located above the EMA of 200 and the EMA of 100. The RSI is rising towards 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signal. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
The support level breakthrough may push the price down towards 1.33450; otherwise, USDCAD will grow towards the weekly pivot point at 1.34380.