USDCAD analysis for 04.10.2016

USDCAD is chiefly under the influence of oil prices. The pair is finding support at 1.31110 with resistance at 1.31790 which the weekly pivot point at 1.31500 is located in between the lines. The EMA of 10 is moving with bullish bias and it has reached the EMA of 100. The RSI is moving above the 50 level, the MACD indicator is in negative territory heading up and the Stochastic is showing upward momentum. Long positions are recommended with the target at 1.3200.

https://fxglory.com/usdcad-analysis-for-04-10-2016/