-
USDCAD’s positive impetus curbed by 50-day SMA and cloud
video USDCAD is struggling to tick higher after its recent positive propulsion off the 37½-month low of 1.2365. The descending simple moving averages (SMAs) are imposing the predominant bearish bias. Additionally, the fairly neutral demeanour of the Ichimoku lines is suggesting a phase where positive sentiment has become subdued, further tilting the scale in favour of the downside. Clearly positive momentum has significantly faded and this is being conveyed in the short-term oscillators as well. The MACD and the red trigger line are flat at the zero mark, while the RSI is flirting persistently with the 50 level, ... (full story)