USDCAD is consolidating across the 1.2300 handle after the price slipped back below the Ichimoku cloud and the simple moving averages (SMAs) over a period of one-month. The bullish bearing of the 50- and 100-day SMAs has softened, as has the negative tone of the 200-day SMA, overall signalling that the pair may adopt a more neutral form. The Ichimoku lines are indicating a pause in downward forces, while the short-term oscillators are conveying conflicting signals in directional momentum. The MACD, some distance below zero, is edging towards its red trigger line, while the RSI’s recent rebound at the 30 level is ... (full story)