Canada will release Gross Domestic Product and Quarterly Gross Domestic Product Annualized and in the US Federal Reserve Chairman Jerome Powell Speaks.
The pair is finding support at 1.37240 with resistance at 1.38140 which both lines are below the weekly pivot point at 1.39960. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in middle ranges. 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.
USDCAD may drop to 1.37000, but it is not going to fall further.