USDCAD analysis for 13.02.2017

USDCAD is falling within the descendant channel creating lower lows and lower highs. The pair is finding support at 1.30620 with resistance at 1.31380 which both lines are above the weekly pivot point at 1.30520. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100 and the EMA of 200. The RSI is rising towards the 50 level, the MACD indicator is in positive territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The support level breakthrough will smooth the way for further decline targeting 1.3050. https://fxglory.com/usdcad-analysis-for-13-02-2017/