The US dollar fell against a wide range of currencies, and the USD/CAD exchange rate fell below the 20-day exponential moving average (EMA), which was located at 1.28750. Because of the holiday in the United States, trading has been rather quiet today. Recently, the U.S. Dollar Index has been unsuccessful in reaching the test of the annual highs, and it has fallen closer and closer to the 105 level. In the event that the U.S. Dollar Index is able to maintain its position above this level, the pair USD/CAD will likely continue its downward trend.

The price line has a pivot point below it at 1.28550, with support at 1.28430 and resistance at 1.28650. The EMAs of 200, 100 are moving horizontaly, and the EMA of 10 is moving below the EMA of 100 with a bearish signal. The MACD is in negative zone, with the signs indicating a down trend. The Stochastic and RSI indicators are moving toward low ranges and the ADX is not indicating a strong trend.
The price is above the Ichimoku Cloud and the Chinkou Span is near the market price. The Tenkan-sen and the Kijun-sen are moving with a slight downtrend.

• There is resistance at 1.28650, followed by resistance at 1.28770 and 1.28780.
• There is support at 1.28430 Below, there is 1.28330 and 1.28210.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.