USDCAD is bullish on the 1W timeframe (RSI = 60.180, MACD = 0.003, ADX = 23.071) and turned overbought on its 1D technical outlook (RSI = 69.243). This is taking place while the price is just underneath the 2 year R1 Zone, which has rejected the price 5 times already. The 1D RSI is also about to enter its R1 Zone. We expect another rejection towards the S1 level (TP = 1.34500).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.