28.08.2018
USDCAD
The pair is trading above the 1.2955 level. It is supported by the increasing oil prices and the hopes and the US and Canada will come to a new trade agreement. The markets are also expecting the Bank of Canada to increase the interest rates in September.
The price is lower than the middle Bollinger band, at the SMA 5 level and under the SMA 14. RSI resides above the oversold zone. Stoch are inside that zone.
Trading recommendations:
The pair has the potential to fall locally down to 1.2900 after breaching the 1.2955 level.
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