Ivey PMI s.a will be released in Canada and the US will publish JOLTs Job Openings and IBD/TIPP Economic Optimism. The pair is finding support at 1.33900 with resistance at 1.34560 which the weekly pivot point at 1.34280 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is located above the EMA of 200 and the EMA of 100. The RSI is falling towards oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signal. 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 line seems to be too strong to be broken; USDCAD may fall towards it but it will not go beyond it. Long positions are recommended towards 1.34800.
USDCAD analysis for 07.05.2019
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