04.12.2020
The pair remains in a short-term downtrend as the US dollar weakens, while crude oil prices resume growth. If these two important factors persist, the pair will remain under pressure.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is declining. Stoch are also in this zone.
USDCAD rate online: monitor the price movement in real time.
Trading recommendations:
Sell the pair if it fixes below 1.2855 following the negative employment data release in the US with a likely drop to 1.2775.
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