The USDCAD pair, strongly bullish since the beginning of the year, corrected for several weeks and validates its entry into a downtrend with the crossing of moving averages at 7 and 20 sessions. In this context, investors will use the return on the moving average at 7 sessions to enter the movement with a stop placed above the moving average at 20 sessions. The Bollinger Bands divergence indicates that we may test the former resistance at 1.01.
Direction: Down
Entry: 1.0168
Stop-loss: 1.0250
Take-profit: 1.0110
