USD/CAD trades to a fresh yearly high (1.3544) as it extends the advance from the 50-Day SMA (1.2999), and the exchange rate may continue to carve a series of higher highs and lows as long as the RSI holds above 70. As a result, USD/CAD may continue to track the positive slope in the moving average as the Federal Open Market Committee (FOMC) retains its current approach in combating inflation, and the Greenback may continue to outperform its Canadian counterpart over the near-term as the Fed’s Summary of Economic Projections (SEP) show a steeper path for US interest rates. In turn, USD/CAD may continue to trade to ... (full story)