01.07.2020
The pair continues to consolidate amid the flat trend in the crude oil market triggered by the uncertainty surrounding the coronavirus pandemic, as well as by the demand for crude oil and the pace of global economic recovery associated with it.
Technical side:
The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below 50% and is indicating the likelihood of further decline. Stoch are in the oversold zone and are uninformative.
USDCAD rate online: monitor the price movement in real time.
Trading recommendations:
If the pair goes below 1.3560, it will be likely to continue further down to 1.3480.
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