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.
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Technical Analysis Summary
|Buy stop||Above 1.3143|
|Stop loss||Below 1.3123|
Market Analysis provided by IFCMarkets