USDCAD is chiefly under the influence of oil prices. The pair is finding support at 1.31070 with resistance at 1.31270 which both lines are below the weekly pivot point at 1.32050. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100 and above the EMA of 200. The RSI is moving in oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The ADX is showing a weak sell signal. Short positions are recommended targeting 1.3070.
USDCAD analysis for 14.12.2016
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