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USDCAD forms triple top near 1.2960; positive bias
video USDCAD posted a triple top around the 18-month high of 1.2960, failing to create a higher high to continue the buying interest. However, the MACD oscillator surpassed its trigger and zero lines, while the RSI is sloping upwards in the positive region. Both are suggesting that the structure is still bullish in the near-term. In the positive scenario, traders would be eagerly looking for a break above the recent top of 1.2960 to increase buying orders. If that’s the case, the rally could last until 1.3175, the highest level marked in November 2020. If bullish forces appear even stronger, 1.3385 should be ... (full story)