USDCAD analysis for 31.01.2017

Oil price is leaving negative impact on Canadian dollar. The pair is finding support at 1.30790 with resistance at 1.31150 which both lines are below the weekly pivot point at 1.31860. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100 and EMA of 200. The RSI is rising towards the 50 level, the MACD indicator is in negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signals. The support level breakthrough will smooth the way for further decline targeting 1.3050 otherwise it will grow to 1.312. https://fxglory.com/usdcad-analysis-for-31-01-2017/