Daily doji on the USD/CAD

The USD/CAD has made a good bearish bounce from the 200 day EMA and the 1.3200 zone towards the 1.3100 level. Once it got to the 1.3100 level, the pair bounces to the upside, but it does not gain enough bullish momentum and forms a “doji” on the last daily candle. The doji formation is an indecision Japanese candlestick pattern, which indicates exhaustion and uncertainty. From this point on, the USD/CAD could head in any direction, but due to the fact that the previous candle to the doji is a bearish candle, the price could try to head higher. However, the 1.3200 level along with the 200 day EMA could act once again as resistance. Above the 1.3200 level, its next resistance could be the 1.3300 level and below the 1.3100 level, its next support could be the 1.3000 level.