While there are no major economic reports in Canada today, USDCAD will be influenced by global macroeconomic factors.
The pair is finding support at 1.39980 with resistance at 1.40940 which both lines are below the weekly pivot point at 1.41210. The EMA of 10 is moving with bearish bias in the horizontal channel and it is located between the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is showing sell signal. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1.39700.