The primary trend of USD/CAD is bearish on charts and price is trading below its support level in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200day SMA that are appears on the above image indicating downtrend of the pair.
Resistance level of 1.2840 and Support level of 1.2750
If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming negative trend in the pair.
STRATEGY: USD/CAD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
Resistance level of 1.2840 and Support level of 1.2750
If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming negative trend in the pair.
STRATEGY: USD/CAD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.