USDCAD is trading at 1.2952; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2970 and then continue moving downwards to reach 1.2840. Another signal to confirm further descending movement is the price’s rebounding from the resistance level.
However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2895. In this case, the pair may continue growing towards 1.2795.
Orgin: RoboForex
