Higher manufacturing sales bearish for USDCAD
Manufacturing sales rose 0.8% in August in Canada, after two consecutive monthly declines. Will the USDCAD decline?
The price chart on 1-hour timeframe shows USDCAD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is falling. The RSI oscillator is falling but has not reached the oversold zone.
Technical Analysis Summary
| Order | Buy |
| Buy stop | Above 1.3143 |
| Stop loss | Below 1.3123 |