USD/CAD moved lower on Friday following a two days bullish momentum but managed to end the week well above 1.2500. Currently, the pair is trading almost unchanged at 1.2532 with immediate support levels at 1.2507 and 1.2481. The intraday resistance levels are at 1.2549 and 1.2578.
On the intraday chart, the RSI has come down to 57 and appears while the MACD remains above the middle line and favors the bulls. The current price is near the SMA-50 support line while the SMA-14 indicating support way below at 1.2440. The pair is also keeping above the mid-band while the upper and lower bands are at 1.2555 and 1.2277 respectively. The fact that the pair managed to end the last week above 1.2500 and with the availability of nearby support levels the pair is likely to rise which makes it ideal for buying entries around 1.2520 with a target of 1.2575 and a stop-loss at 1.2490.
