USDCAD is declining since the middle of December. Canada will release RBC Manufacturing PMI (s.a.).
The pair is finding support at 1.26570 with resistance at 1.27580 which both lines are below the weekly pivot point at 1.27730. 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 moving in oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signal. The price is below the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
Short positions are recommended towards 1.26000.