24.03.2020
The pair is trading below 1.4420 amid the rising crude oil prices and positive news from China, as the country reopens its borders due to the subsiding coronavirus pandemic. Another positive growth factor for the pair is an increase in demand for risk assets and the announcement of unprecedented stimulus measures by the Fed which put pressure on the dollar.
The price is below the middle Bollinger band, below the SMA 5 and SMA 14. RSI is above 50%, but reduced. Stoch are falling.
Trading recommendations:
Sell the pair with a local target of 1.4150.
The USDCAD rate online: monitor the movement of the pair in real time.
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