USDCAD is chiefly under the influence of the oil prices which have been growing since the last week.
The pair is finding support at 1.36110 with resistance at 1.37090 which both lines are above the monthly pivot point at 1.35210. The EMA of 10 is moving horizontally and it is located above the EMA of 100 and below the EMA of 200. The RSI is falling towards the oversold area, the MACD indicator is in neutral territory and the Stochastic is showing downward momentum. The ADX is showing 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 targeting 1.34 area.

usdcad analysis