USDCAD Technical analysis 11.10.2016

USDCAD

The pair has found support on 1.3160 level after the oil prices stopped at the maximums reached earlier, awaiting for real measures instead of just verbal interventions about reduction in oil production volume .

The price is lower than the middle Bollinger band, higher than SMA5, but lower than SMA14. RSI is passing the 50% level. Stoch are pointing up.

Trading recommendations: A fixation above the 1.3200 level will lead to a local rise up to 1.3300. If there is no news signaling that an agreement has been reached the pair can fall to 1.3400.