02, June 2016

USD/CAD (a 4-hour chart)

USD/CAD (a 4-hour chart)

General overview

The fallen oil prices had a negative impact on the Canadian dollar dynamics. The investors are focused on the upcoming Non-Farm.

Current situation

The pair USD/CAD still hopes to recover, but without success so far. The pair is consolidating near 1.3100. The resistance is at the level of 1.3100, the support is at 1.2900.

MACD is in a positive area. The signal line is in the histogram. RSI is neutral. The indicator does not give clear signals.

Trading recommendations

We expect the 1.3100 line break that will open the way for the buyers to 1.3200.