USDCAD analysis for 22.11.2016

CAD is chiefly under the influence of wholesale Sales report and oil price. The pair is finding support at 1.33860 with resistance at 1.34240 which both lines are below the weekly pivot point at 1.34960. The EMA of 10 is moving with bearish bias and it is located above the EMA of 100 and the EMA of 200. The RSI is moving below the 50 level, the MACD indicator is in neutral territory and the Stochastic is moving horizontally in low ranges. The ADX is showing sell signal. The pair will start its bullish trend soon therefore long positions are recommended targeting 1.3470.

https://fxglory.com/usdcad-analysis-for-22-11-2016/