USDCAD under negative pressure – Technical Analysis – 19-11-2015

The USDCAD pair declined recently after breaking the rising wedge support line that appears on the chart, which put the price under negative pressure that led to break the moving average 50, adding more negative pressures, along with the domination of the bullish trend on the medium term basis, and the relative strength indexes reach to the oversold areas.

Therefore, we expect more decline in the coming trading, targeting 1.3230 support that meets the ascending channel’s support line.