USDCAD is chiefly under the influence of the oil price and the US economic reports such as Building Permits and Import and Export Prices MoM.
The pair is finding support at 1.22590 with resistance at 1.23290 which both lines are above the weekly pivot point at 1.21710. The EMA of 10 is moving with bullish bias along the ascendant channel but it is located below the EMA of 200 and the EMA of 100. The RSI is falling towards the 50 level, the MACD indicator is in positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend.
The resistance level seems to be too strong to be broken therefore sellers can target 1.2170.

usdcad analysis