USDCAD technical review 16.06.2020

The pair price is correcting down amid the US Fed’s decision on Monday to expand its support of the national economy. It is one more important reason for the weaker US dollar. Also, the pair may go down if oil prices don’t turn down. 

Technical side:

The price is under the middle Bollinger band, SМА 5, and SMA 14. Crossing movings give a sell signal. RSI is under the 50% and keeps going down. 

Trading recommendations: 

Decline under 1.3520 will lead to further decline to 1.3350.

The USDCAD rate online: monitor the movement of the pair in real time.