Forex Pair: USDCAD Price Chart, Analysis and Trading Tips
03 May 2022
USDCAD Technical Analysis: Weekly Chart
In the weekly charts, USDCAD is trading within a symmetrical triangle.
It is trading above all SMAs: MA (20), MA (50), and MA (100).
RSI is in buying zone which indicates bullishness. MACD is currently trading above zero which indicates bullishness.
The immediate support is at 1.24400 and the resistance level is at 1.29869
USDCAD is trading within a symmetrical triangle until there is a breakout or a breakdown.
USDCAD Technical Analysis: Weekly Chart
In the daily charts, USDCAD is trading in an upward channel.
It is trading above all SMAs: MA (20), MA (50), and MA (100).
RSI is in buying zone which indicates bullishness. MACD is currently trading above zero which indicates bullishness.
The immediate support is at 1.28186 and the resistance level is at 1.29132
USDCAD is trading in an upward channel until there is a trend reversal.
How to trade USDCAD this week:
USDCAD is trading within a symmetrical triangle until there is a breakout or a breakdown. If the price breakouts, the following opportunity can be taken: