USDCAD has been swinging sideways over the past two weeks between 1.3740 and 1.3600, unable to reverse the short-term downtrend from April’s peak of 1.3844. The technical signals are currently uncertain, lacking a clear indication as the RSI continues to hover near its neutral mark of 50 and the stochastic oscillator maintains a flat trajectory. Perhaps a close above the 50-day simple moving average (SMA) at 1.3668 could help the price climb towards the upper band of the range at 1.3740 and probably touch the key resistance line at 1.3775. Note that the 78.6% Fibonacci retracement of the November-December 2023 ... (full story)