USDCAD Technical Analysis: Weekly Chart

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

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

The immediate support is 1.24392 and the resistance level is at 1.28904

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 MA (5) and MA (20) but below MA (50).

The immediate support is 1.26148 and the resistance level is at 1.26808

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. The following opportunity can be taken if there is a breakout:

TRADE SUGGESTION: BUY AT 1.29626, TAKE PROFIT AT 1.31706 AND STOP LOSS AT 1.28016