29.04.2020
The pair continues to be supported by the growing demand for risk assets as the coronavirus impact is waning, and the lockdowns are gradually being lifted around the world. These developments, as well as the Fed’s final decision to extend the massive economic stimulus until the end of the year will support the positive market sentiment and strengthen the position of the Canadian national currency against the US dollar.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch are entering the oversold zone.
Trading recommendations:
Sell the pair after its decline below 1.3940 with a probable fall to 1.3860.
USDCAD rate online: monitor the movement of the pair in real time.
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