The US is publishing ISM Manufacturing PMI along with Canada releasing RBC Manufacturing PMI.
The pair is finding support at 1.24260 with resistance at 1.25140 which the weekly pivot point at 1.24740 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving horizontally on the 50 level, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended targeting 1.2300.

usdcad analysis