Technical analytics

USD/CAD

USDCAD

The pair held a bullish tone on Friday. Buyers were able to retake the level 1.3100 and headed towards 1.3150. The pair faced selling rejection here when the spot found fresh offers here. The currency pair sharply dropped to the 1.3080 region after that. The EMA100 saved buyers from further losses and rejected the rate to 1.3100. The moving averages are giving mixed signals. The EMA200 is going down, while the EMA50 is still bullish. MACD entered the positive area, and RSI reached the oversold levels and bounced off them. 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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