USDCAD analysis for 20.04.2017

CAD is under the influence of the Oil price decline. The pair is finding support at 1.34580 with resistance at 1.34820 which both lines are above the weekly pivot point at 1.33240. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located above the EMA of 100 and below the EMA of 200. The RSI is moving in the overbought area, the MACD indicator is in positive territory and the Stochastic is moving in high ranges. The ADX is showing a buy signal. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend. Taking CAD as the weak currency, bulls will take the control of the chart pushing the price towards 1.35. https://fxglory.com/usdcad-analysis-for-20-04-2017/