The USD/CAD pair might fall in the near term, according to our daily and weekly analysis. The RSI oscillator and the Stochastic indicator is at an overbought level, on the daily chart. According to the weekly chart, the RSI oscillator is still in overbought territory. USD/CAD has risen recently, as Bank of Canada has lowered target rate by 50 basis points on negative economic shock from coronavirus.
The most important data from this week:
Canada CPI MoM (0.3% previous)
You (2.4% previous)
Canada retail sales MoM (0.00% previous)
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