Due to the Canadian Retail Sales report, CAD is acting stronger against its American counterpart.
The pair is finding support at 1.33380 with resistance at 1.33960 which the weekly pivot point at 1.33710 is located in between the lines. The EMA of 10 is moving with bullish bias and it is above the EMA of 100 and the EMA of 200. The RSI is moving horizontally on the 50 level, the MACD indicator is in neutral territory and the Stochastic is showing upward momentum. The ADX is showing weak buy signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a downward trend.
Short positions are recommended targeting 1.3260.

usdcad analysis