Technical Overview USDCAD 04.12.19
USDCAD The pair is consolidating above the 1.3280 level, pending a decision of the Central Bank of Canada on monetary policy, as well as slurred crude oil price movements. If the regulator decides to leave rates unchanged and will make it clear he has no plans to change them in the foreseeable future, it can provide support to the Canadian currency.
The price is below the average indicator Bollinger border lines on SMA 5 level, but below the SMA 14. RSI RSI is located below the level of 50% horizontally moves. Stoch indicates a weakening of the downward dynamics.
Recommendations for USDCAD trade:
In the wake of the positive for a "Canadian" news USDCAD pair may break the level 1.3280 and strive to 1.3250.
Analytics Grand Capital
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