USDCAD is somewhat consolidating around the 50-day simple moving average (SMA) at 1.2776, as the pair’s efforts to improve are being curbed by the Ichimoku cloud. The Ichimoku lines are reflecting the price’s struggle to gain ground and it appears its bearish demeanour may be bulletproofed by the downward sloping SMAs. Positive momentum in the short-term oscillators seems to be faltering, increasing odds to the downside. The MACD, marginally above its red trigger line has barely peeped above the zero threshold, while the RSI is finding difficulty in maintaining gains over the 50 level. Nevertheless, the stochastic ... (full story)