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USDCAD rockets off 200-MA, fuelling upward trajectory

From xm.com

{video}USDCAD remains positively energized aiming for the Ichimoku cloud’s upper band around the 1.2813 high, after taking flight from the 200-day simple moving average (SMA) around the 1.2500 mark. The longer-term SMAs are suggesting an overall neutral trend in the pair, while the marginal incline in the 50-day SMA is sponsoring the recent rally from the 1.2500 level. Currently, the Ichimoku lines are converging, failing to indicate a leading directional force, while the short-term oscillators are skewed to the upside. The MACD, above the red trigger line, is tackling the zero threshold, while the RSI is improving ... (full story)

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  • Category: Technical Analysis