15.02.2021
The pair is trading near the strong support level of 1.2660. The Canadian currency is supported by a strong rise in crude oil prices, but the US dollar is not giving up, as the growth in treasury yields is already supporting its course. This is the reason for the long sideways dynamics of the pair for two months.
Technical side:
The price is located below the middle Bollinger band, below the PMA 5 and SMA 14. RSI is below the 50% level and is turning up. Stoch are in the oversold zone and also showing a local upward reversal.
USDCAD rate online: monitor the price movement in real time.
Trading Idea:
Fixing the price above the level of 1.2660 will in a further growth to 1.2750.
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