Building Permits will be released in Canada while there are no major economic reports worldwide.
The pair is finding support at 1.27840 with resistance at 1.28960 which both lines are above the weekly pivot point at 1.27570. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and above the EMA of 100. The RSI is moving on level 50, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing a downward trend and the Kijun-sen is showing an upward trend.
The resistance line seems too strong to be violated. USDCAD may decline towards the weekly pivot point.