02.04.2020
The pair is gradually declining amid the strong growth in crude oil prices which rose more than 10%. The positive opening in Europe, as well as the positive movement of the US stock index futures, may support a further local decline of the pair. In general, a flat trend is expected in the near future in the currency market.
Technical side:
The price is below the middle Bollinger band, below PMA 5 and SMA 14. Moving Averages suggest selling. RSI has crossed the level of 50% and is declining. Stoch are also falling steadily.
Trading recommendations:
Sell the pair after it goes below 1.4060 with the local target of 1.3930.
USDCAD course online: follow the movement of the pair in real time.
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