USDCAD: Strong buy opportunity near the Support

The USDCAD pair crossed under the 1D MA200 last week and is approaching S1 on a very bearish 1D technical outlook (RSI = 38.120, MACD = -0.005, ADX = 45.239). The two day bounce on the HL trendline and the fact that the 1D RSI hit the bottom of its Channel, constitute a short term buy opportunity targeting the 1D MA50 (TP = 1.35450). If a candle closes above the 1D MA50, we will buy again the breakout and target the LH trendline (TP = 1.37545).

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