USDCAD Technical Analysis: Weekly Chart

In the weekly charts, USDCAD is trading within an ascending triangle.

It is trading above all SMAs: MA (5), MA (20), and MA (50).

The immediate support is at 1.25246 and the resistance level is at 1.29462

USDCAD is trading within an ascending triangle until there is a breakout.

USDCAD Technical Analysis: Daily Chart

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

It is trading above all SMAs: MA (5), MA (20), and MA (50).

The immediate support is at 1.26576 and the resistance level is at 1.27748

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

How to trade USDCAD this week:

USDCAD is trading within an ascending triangle until there is a breakout. If the price breakouts, the following opportunity can be taken:

TRADE SUGGESTION: BUY AT 1.29652, TAKE PROFIT AT 1.33182 AND STOP LOSS AT 1.27448