Bank of Canada Monetary Policy Report will be released today along with Consumer Price Index, Core CPI and Overnight Rate.
The pair is finding support at 1.30720 with resistance at 1.31010 which both lines are above the weekly pivot point at 1.30610. The EMA of 10 is moving with bullish bias in the ascendant channel and it is located below the EMA of 100 and above the EMA of 200. The RSI is moving above 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing weak buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1.31200.
