USDCAD analysis for 07.08.2017

USD has been supported by the NFP and the wages data. The pair is finding support at 1.26240 with resistance at 1.26910 which both lines are above the weekly pivot point at 1.25790. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located below the EMA of 200 and above the EMA of 100. The RSI is moving horizontally in the overbought area, the MACD indicator is in positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Long positions are recommended targeting 1.27. https://fxglory.com/usdcad-analysis-for-07-08-2017/