USD/CAD falls as the currency pair is weighed down by the potential of slower growth and dollar weakness. The dollar was under pressure due to the possibility of a recession. As investors moved out of bonds and into equities today, benchmark rates increased. Today, the ten-year yield increased by three basis points.

The price line has a pivot point above it at 1.28050, with support at 1.27970 and resistance at 1.28180. The EMA 10 is above the EMA 200 and below the EMA 100 which both are moving about horizontally. The MACD is in the positive zone, with the signs indicating a downward trend. The Stochastic is moving upward above the 80 points. The MACD is in the positive zone, with the signs indicating a downward trend. The RSI is moving toward the low ranges and the ADX is not indicating a clear trend.

• There is resistance at 1.28180, followed by resistance at 1.28260 and 1.28390.
• There is support at 1.27970. Below, there is 1.27840 and 1.27760.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

USDCADanalysis