Technical analysis 21.08.19

USDCAD

The pair is trading above 1.3300 in anticipation of the publication of consumer inflation data in Canada. If inflation pressure increases, and if the report of the last meeting of the Fed, which will be released today, will show a greater proclivity of the Fed to continue lowering rates, the pair will continue its decline.

The price is above the middle line of the Bollinger band, below the 5 SMA but above the SMA 14. RSI is above the level of 50% and moves horizontally. Stoch is uninformative.

Trading recommendations:

It possible to sell the pair after it crosses the level of 1.3300 with a probable local target of 1.3245.