31.03.2020
The recovery in crude oil prices amid the extremely positive data on the business activity index (PMI) in China, which rose above the key mark of 50 points to 52.0 points, may put pressure on the pair and contribute to its local decline. Growth in stock indexes and demand for risky assets will contribute to this.
The price is above the middle Bollinger band, above the EMA 5 and SMA 14. RSI is above the 50% level and indicates a weakening of growth. Stoch are turning up in the overbought zone.
Trading recommendations:
A decline in the price below 1.4170 will lead to a limited drop to 1.3930.
The USDCAD rate online: monitor the movement of the pair in real time.
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