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USDCAD Technical analysis 16/11/2016‏ by GrandCapital

 

USDCAD

The pair is under pressure following the crude oil price leap, which is supported by rumors that the agreement on crude oil extraction volume regulation may be reached at the OPEC meeting in Vienna on the 30th of November.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above 50% level and keeps falling. Stoch are already in the oversold zone.

Trading recommendations: Sell the pair when it drops below 1.3420 support level with a possible target of 1.3360.

 

Source: https://grandcapital.net

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