Oil price fluctuation made USDCAD more volatile.
The pair is finding support at 1.33050 with resistance at 1.33440 which both lines are below the weekly pivot point at 1.33830. The EMA of 10 is moving with bearish bias along the descendant channel and it is located below the EMA of 100 and below the EMA of 200. The RSI is falling towards the oversold area, the MACD indicator is in negative territory and the Stochastic is moving in low ranges. The ADX is showing a weak sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
Short positions are recommended targeting 1.31.

usdcad analysis