USDCAD analysis for 22.12.2017

Canada will release GDP MoM and Budget Balance and the US will publish New Home Sales, Personal Income and Spending MoM and Durable Goods Orders MoM. The pair is finding support at 1.26970 with resistance at 1.27470 which both lines are below the weekly pivot point at 1.28250. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing sell signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend. The support level breakthrough will push the price down towards 1.25. https://fxglory.com/usdcad-analysis-for-22-12-2017/