USDCAD has marked yet more lower highs and lower lows due to lingering negative forces. Moreover, the pair is also trading well below its 50- and 200-period simple moving average (SMA), and has recently completed a ‘death cross’ where the 50-period SMA has crossed below the 200-period SMA, increasing fears of a sustained bearish outlook. Short-term momentum indicators are supporting a mixed picture as the RSI is located below its 50 neutral mark. However, despite the MACD being below zero, it is found above its red signal line, indicating that the negative bias might be fading. Should the bears remain in charge, ... (full story)