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 buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 1.2804 & the resistance level is at 1.2974.

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

USDCAD Technical Analysis: Daily Chart

In the daily charts, USDCAD is trading in down channel. USDCAD is currently trading below 50 days SMA & above 20 and 100 days SMA.

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

Its immediate support is 1.2836 & the resistance level is at 1.2935

USDCAD will trade in down channel until there is trend reversal.  

How to Trade USDCAD this Week:

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

TRADE SUGGESTION- BUY AT 1.2885, TAKE PROFIT AT 1.2935 AND STOP LOSS AT 1.2836