USDCAD technical analysis

USDCAD

The pair is moving in the range of 1.2005-1.2130 waiting for the outcome of the Central Bank of Canada's monetary policy meeting, which will take place today and the publication of tomorrow's data on consumer inflation in the US. We expect what the decision of the Canadian regulator will not change the monetary rate, as well as the rise in oil prices, will put pressure on the pair.

Technical side:

The price is located above the middle Bollinger band, below SMA 5, but still above SMA 14. RSI is above the 50% level and moves horizontally. The stoch are turned down.

USDCAD rate online: monitor the price movement in real time.

Trading idea:

Sell the pair with its probable drop to 1.2050.