CAD had been empowered by the Canadian GDP reports which came much better that anticipated.
The pair is finding support at 1.24460 with resistance at 1.24870 which both lines are below the weekly pivot point at 1.25311. 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 below the 50 level, the MACD indicator is in neutral territory and the Stochastic is moving in low ranges. The ADX is not showing any clear signals. 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 area seems to be too strong to be broken therefore, the pair will be fluctuating within the support and resistance area.

usdcad analysis