USD is acting weaker against its Canadian counterpart.
The pair is finding support at 1.23530 with resistance at 1.23930 which both lines are above the weekly pivot point at 1.22990. The EMA of 10 is moving with bullish bias along the ascendant channel but it is located below the EMA of 200 and above the EMA of 100. The RSI is rising towards the overbought area, 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 the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend.
The resistance level breakout will smooth the way for further growth towards 1.25.

usdcad analysis