USDCAD found a strong rebound around the 1.3310 low heading towards the bearish crossover within the 20- and 40-day simple moving average (SMA) to the 200-day one. The RSI bounced off the oversold territory and is pointing south, while the %K line of the stochastic oscillator recorded a bullish cross with the %D line in the negative area. More advances could find immediate resistance at the SMAs, which are currently hovering near 1.3520. Particularly, a decisive close above this level the bulls are eagerly waiting for a rally towards the 23.6% Fibonacci retracement level of the downward wave from 1.4668 to 1.3310 at ... (full story)