USDCAD analysis for 14.10.2020
BOC Deputy Governor Timothy Lane Speaks and there will be FOMC Members’ talks as well.
The pair is finding support at 1.31190 with resistance at 1.31610 which both lines are below the weekly pivot point at 1.31890. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving below level 50, the MACD line is above the signal line in the positive territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing a horizontal trend while the Kijun-sen is showing a downward trend.
The indicators are showing mixed signals. It seems that USDCAD is trying to consolidate within the support and resistance lines.