ADP Employment Change and Wholesale Sales MoM will be published in Canada and the US will release Durable Goods Orders MoM and Inflation Rate.
The pair is finding support at 1.31490 with resistance at 1.32230 which both lines are below the weekly pivot point at 1.32610. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
The resistance level breakout will smooth the way for further growth towards 1.3225; otherwise USDCAD may continue its downward trend towards 1.3118.
