USDCAD experienced an uneventful week, moving sideways between the 20-day simple moving average (SMA) and its new ten-month low of 1.3015. In Ichimoku indicators, the red Tenkan-sen is flattening well below the blue Kijun-sen, while the RSI and the MACD keep gaining ground in the bearish territory, all signaling a neutral bias for the short-term. The 20-day SMA at 1.3084 could act as immediate resistance if the price corrects to the upside. Breaking that line, the bullish action may likely continue until the previous highs around 1.3143, while higher the pair could begin a rally towards the 1.3200-1.3228 area. In the ... (full story)