On Tuesday US dollar was higher than the Canadian dollar. Overnight Rate, BOC Rate Statement and Bank of Canada Monetary Policy Report will be released in Canada and there will be Bank of Canada Press Conference. The US will publish influential reports such as Goods Trade Balance and Wholesale Inventories.
The pair is finding support at 1.31830 with resistance at 1.32870 which both lines are above the weekly pivot point at 1.31370. The EMA of 10 is moving with bullish bias in the ascendant channel and it is located above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 1.33000.