31.03.2020
The recovery of crude oil prices amid the extremely positive PMI in China, which rose above the key value of 50 to 52.0, may put pressure on the pair and contribute to its local decline. Rising stock indices and demand for risk assets will also 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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