USDCAD analysis for 07.10.2016

USDCAD is climbing up the ascendant channel due to the strong USD. The pair is finding support at 1.32100 with resistance at 1.32700 which both lines are above the weekly pivot point at 1.31500. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100. The RSI is moving above the 50 level, the MACD indicator is in positive territory and the Stochastic is showing upward momentum. Long positions are recommended targeting 1.3280.

https://fxglory.com/usdcad-analysis-for-07-10-2016/