Technical analytics

USD/CAD

USDCAD

USD/CAD preserved its modest positive bias. A bid tone around the US dollar helped the major to reverse its recent losses. Buyers returned the 1.3050 level first and then extended their gains up to 1.3100. These levels rescued sellers from further losses. The pair touched this hurdle and stayed till the morning. The moving averages are giving mixed signals. The EMA200 is going down, while the EMA50 is still bullish. MACD is at the mid-line, and RSI reached the overbought readings. The resistance stands at 1.3100, the support is at 1.3050.


We would recommend long positions, if we would see a convincing break above 1.3100. After fixing above this mark, the currency pair may advance up to 1.3150.


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