USD and CAD are both getting weak and the oil price is not supporting CAD.
The pair is finding support at 1.32100 with resistance at 1.32720 which both lines are below the weekly pivot point at 1.34730. 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 rising towards the 50 level, the MACD indicator is in negative territory and the Stochastic is showing upward momentum. The ADX is showing sell signals. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing a horizontal trend while the Kijun-sen is showing a downward trend.
1.32 level of support seems to be strong therefore long positions are recommended targeting 1.33 area.

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