CAD has been weakened due to the poor economic data.
The pair is finding support at 1.21100 with resistance at 1.21720 which both lines are below the weekly pivot point at 1.22130. 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 in oversold area, the MACD indicator is in negative territory and the Stochastic is moving in high ranges. The ADX is showing weak sell signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
Short positions are recommended towards 1.20.

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