Technical Analysis for CAD

Technical Analysis for CAD

The pair is trading below 1.0330 so we will be neutral again. We cannot be negative now while trading in an ascending channel, Stochastic also tends to be positive. Meanwhile, the current positive situation is inappropriate in light of the negative Linear Regression Indicators and RSI trading below line 50.

The trading range for today is between the key support at 1.0200 and the key resistance at 1.0425.

The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.

Support: 1.0300, 1.0270, 1.0240, 1.0215, 1.0200
Resistance: 1.0330, 1.0355, 1.0385, 1.0400, 1.0425

Recommendation Based on the charts and explanations above, we prefer to remain neutral waiting for confirmation signals