USDCAD analysis for 29.05.2017

CAD is supported by the oil price. The pair is finding support at 1.34380 with resistance at 1.34730 which both lines are below the monthly pivot point at 1.35210. The EMA of 10 is moving with bullish and it is located below the EMA of 200 and below the EMA of 100. The RSI is falling towards the oversold area, the MACD indicator is in negative territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward momentum while the Kijun-sen is showing a horizontal trend. There are no economic reports in Canada and the US therefore the pair will be consolidating around 1.34 are https://fxglory.com/usdcad-analysis-for-29-05-2017/