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USDCAD pulls back from 3-month peak
video USDCAD had been stuck in a steep uptrend after finding its feet at the 11-month low of 1.3091 in mid-July. However, the pair has been undergoing a downside correction since its rejection at a fresh three-month peak of 1.3638 on Tuesday. The momentum indicators currently suggest that the bullish forces are fading. Specifically, the MACD is softening below its red signal line in the positive zone, while the stochastics are descending sharply near the 20-oversold mark. Should the bears attempt to push the price lower, immediate support could be found at the 200-day simple moving average (SMA), currently at ... (full story)