USDCAD: Good Market for Buying

The market looks oversold, and it is at 1.29500 support. RSI is in the oversold zone. MACD histogram gives a bullish signal.

What does it mean for us? The market will be able to provide us a good buy opportunity based on the daily and lower timeframes.

The market should be added to a watchlist. If the price breaks the high of the previous bullish candles, it can be used for buying. Stop orders must be placed below 1.29500 support. If the price breaks this support, we will see another downward movement.