USDCAD Technical Analysis: Weekly Chart

In the weekly charts, USDCAD is trading in an up channel. USDCAD is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 1.31200 the resistance level is at 1.32100

USDCAD will trade in an up channel until there is a trend reversal.

USDCAD Technical Analysis: Daily Chart

In the daily charts, USDCAD was trading in an up channel. USDCAD is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 1.31500 the resistance level is at 1.32200

USDCAD was traded in an up channel before there is a breakout downside.   

How to Trade USDCAD this Week:

USDCAD will follow the uptrend until its trend reversal. So, remain bullish on USDCAD

TRADE SUGGESTION- BUY AT 1.31864, TAKE PROFIT AT 1.32200 AND STOP LOSS AT 1.31500

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