USDCAD Technical Analysis: Weekly Chart

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

It is trading below all SMAs: MA (20), MA (50), and MA (100).

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

The immediate support is at 1.24468 and the resistance level is at 1.29502

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

USDCAD Technical Analysis: Daily Chart

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

It is trading below all SMAs: MA (20), MA (50), and MA (100).

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

The immediate support is at 1.25302 and the resistance level is at 1.26672

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: SELL AT 1.23975, TAKE PROFIT AT 1.21230, AND STOP-LOSS AT 1.25816