USDCAD Analysis: Falling retail sales bullish for USDCAD

October 22, 2019

By IFCMarkets

Falling retail sales bullish for USDCAD

Retail sales in Canada decreased in August when a growth was expected. Will the USDCAD decline?

USDCAD rising toward MA(200)

The price chart on 1-hour timeframe shows USDCAD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is falling. The RSI oscillator is falling but is above 50 level.

Technical Analysis Summary

OrderBuy
Buy stopAbove 1.3122
Stop lossBelow 1.3102

Market Analysis provided by IFCMarkets