USDCAD PRICE CHART, FORECAST AND ANALYSIS

forex technical analysis

USDCAD Technical Analysis: Weekly Chart

In the weekly charts, USDCAD is trading in a downward channel.

It is trading above MA (5) and MA (50) but below MA (20).

The immediate support is at 1.25238 and the resistance level is at 1.26752

USDCAD is trading in a downward channel until there is a trend reversal.

USDCAD Technical Analysis: Daily Chart

In the daily charts, USDCAD is trading in an upward channel.

It is trading above MA (20) but below MA (5) and MA (50).

The immediate support is at 1.25506 and the resistance level is at 1.26432

USDCAD is trading in an upward channel until there is a trend reversal.

How to trade USDCAD this week:

USDCAD is trading in a downward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 1.26700, TAKE PROFIT AT 1.25004 AND STOP LOSS AT 1.27624

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