USDCAD Technical Analysis and How to Trade USDCAD

USDCAD Technical Analysis

USDCAD Technical Analysis: Weekly Chart

USDCAD Technical Analysis

In the weekly 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 trading above zero which indicates bullishness.

The immediate support is at 1.25200 and the resistance level is at 1.30600

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

USDCAD Technical Analysis: Daily Chart

USDCAD Technical Analysis

In the daily charts, USDCAD is trading in a downward channel.

It is trading below MA (20) and MA (50) but above MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading above zero which indicates bullishness.

The immediate support is at 1.27835 and the resistance level is at 1.29055

USDCAD is trading in a downward channel until there is a trend reversal.

How to trade USDCAD this week:

USDCAD is trading in an upward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: BUY AT 1.31870, TAKE PROFIT AT 1.35940, AND STOP-LOSS AT 1.28600

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