The disappointing inflation figures in Canada put CAD under pressure against the strong USD.
The pair is finding support at 1.28380 with resistance at 1.29080 which the weekly pivot point at 1.28540 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving above the 50 level, the MACD indicator is in positive territory and the Stochastic is moving in high ranges. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend.
Long positions are recommended towards 1.295.

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