27.04.2020
The pair is turning down, despite the resumption of the fall in crude oil prices. The market's focus is on the Fed's two-day monetary policy meeting, which begins on Tuesday and ends on Wednesday with the regulator's decision on rates. Don’t expect any new statements from Jerome Powell in this regard at a press conference. With growing hopes that the coronavirus pandemic will weaken, the pair will decline amid falling interest in the US dollar as a haven currency.
Technical side:
The price is below the lower line of the Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch has turned down and fell.
Trading recommendations:
Sell the pair after crossing the 1.4045 with its probable decline to 1.3985.
USDCAD rate online: monitor the movement of the pair in real time.
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