USDCAD stopped its upward trend after reaching 1.35330.
The pair is finding support at 1.34310 with resistance at 1.35020 which the weekly pivot point at 1.34560 is located in between the lines. The EMA of 10 is moving with bearish bias and it is above the EMA of 100 and the EMA of 200. The RSI is moving horizontally on the 50 level, the MACD indicator is in neutral territory and the Stochastic is showing upward momentum. The ADX is showing strong buy signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended targeting 1.3400.

usdcad analysis