Although USD is being supported, this currency is acting weak against its Canadian counterpart.
The pair is finding support at 1.28710 with resistance at 1.28970 which both lines are below the weekly pivot point at 1.29470. The EMA of 10 is moving with bearish bias in the descendant channel and it is located above the EMA of 200 and below the EMA of 100. The RSI is falling below the 50 level, the MACD line is on the signal line in the neutral territory and the Stochastic is showing downward momentum. The ADX is showing sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1.27.

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