Raw Materials Price Index of Canada and ADP Non-Farm Employment Change, Unemployment Claims and Crude Oil Inventories from the US are the most influential economic reports for USDCAD.
The pair is finding support at 1.24952 with resistance at 1.25490 which both lines are below the weekly pivot point at 1.26110. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is falling towards the oversold area, the MACD line is above the signal line in the positive territory and the Stochastic is moving in low ranges. The ADX is showing sell signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a horizontal trend while the Kijun-sen is showing a downward trend.
The support level breakthrough will smooth the way for further decline towards 0.23.

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