The pair is trading below 1.3115. It’s under pressure following the publication of the Canadian consumer inflation data on Wednesday, which showed its growth at an annual rate of 2.2% against the previous year’s value of 2.1%. This may be the reason for the lack of desire of the Bank of Canada to lower interest rates.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and moves horizontally. Stoch have reversed upwards.
Trading recommendations:
Sell the pair with a probable local target of 1.3045.