USDCAD analysis for 20.11.2020
Retail Sales, New Housing Price Index and Corporate Profits will be published in Canada and FOMC Member Robert Kaplan Speaks in the US.
The pair is finding support at 1.30420 with resistance at 1.31080 which the weekly pivot point at 1.30790 is located in between the lines. 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 below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
The support level breakthrough will pave the way for further decline towards 1.30100, otherwise USDCAD will be fluctuating below the resistance line.