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USDCAD meets uptrend line again and again
USDCAD has been rebounding off the medium-term ascending trend line over the last couple of weeks, remaining in a positive territory. However, the pair is also finding strong resistance around the 1.3740 barricade with the short-term simple moving averages (SMAs) suggesting a potential bearish crossover. The technical oscillators are showing some mixed signs. The RSI is crossing the 50 level to the downside, while the stochastic oscillator is pointing upwards after the bullish crossover within its %K and %D lines. If the bears take the market lower, the price could find immediate support at the 1.3590 level, ahead of ... (full story)