USDCAD: WEEKLY SCENARIO

USDCAD Technical Analysis: Weekly Chart

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

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

Its immediate support is 1.3300 the resistance level is at 1.3600

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 below all SMA.

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

Its immediate support is 1.3450 the resistance level is at 1.3500

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

How to Trade USDCAD this Week:

USDCAD will follow the downtrend until its trend reversal. So, remain bearish on USDCAD

TRADE SUGGESTION- SELL AT 1.3500, TAKE PROFIT AT 1.3300 AND STOP LOSS AT 1.3600.