28.08.2020
The pair remains in a short-term downtrend amid the global fundamental weakness of the US dollar, which only increased after the Fed’s head Jerome Powell announced 2% as the new inflation target. The pair will continue to decline in the short term due to this factor and the uptrend in oil prices.
Technical side:
The price is at the level of the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch have turned down.
USDCAD rate online: monitor the price movement in real time.
Trading recommendations:
If the price goes below 1.3130, it continue further down to 1.3025.
Thank you for subscribing to our analytics
You already subscribed
Don't have your language?
