USDCAD is chiefly under the influence of last week’s GDP and CPI. The pair is finding support at 1.35510 with resistance at 1.35850 which both lines are above the weekly pivot point at 1.34690. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100 and above the EMA of 200. The RSI is moving in overbought area, the MACD indicator is in positive territory and the Stochastic is moving in high ranges, showing downward momentum. The ADX is showing a weak buy signal. Downward correction pattern will start soon targeting 1.347 area.
USDCAD analysis for 28.12.2016
Comments are closed.