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  • The USD/CAD is currently trading at a one-week low of 1.3219, having clocked a high of 1.3268 earlier today.
  • The daily chart shows the pair has dived out of the rising channel, validating the bearish divergence of the 14-day relative strength index (RSI).
  • The 5- and 10-day exponential moving averages (EMAs) are rolling over in favor of the bears.
  • As a result, the spot looks set to confirm the channel breakdown on a daily closing basis. That would open the doors for a test of the 50-day EMA, currently at 1.3143.

Daily chart

Trend: Bearish


       Today Last Price:  1.3224
       Today Daily change:  -63  pips
       Today Daily change %:  -0.474%
       Today Daily Open:  1.3287
       Previous Daily SMA20:  1.3215
       Previous Daily SMA50:  1.3095
       Previous Daily SMA100:  1.3079
       Previous Daily SMA200:  1.3001
       Previous Daily High:  1.3334
       Previous Daily Low:  1.3272
       Previous Weekly High:  1.336
       Previous Weekly Low:  1.3187
       Previous Monthly High:  1.336
       Previous Monthly Low:  1.3048
       Previous Daily Fibonacci 38.2%:  1.331
       Previous Daily Fibonacci 61.8%:  1.3296
       Previous Daily Pivot Point S1:  1.3262
       Previous Daily Pivot Point S2:  1.3237
       Previous Daily Pivot Point S3:  1.3201
       Previous Daily Pivot Point R1:  1.3323
       Previous Daily Pivot Point R2:  1.3359
       Previous Daily Pivot Point R3:  1.3384