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USDCAD bears seek dominance as BoC rate decision looms
video USDCAD has been moving sideways over the past two weeks, building a floor around 1.3370, but the bears seem determined to lead their market on their own way ahead of the BoC rate decision today at 15:00 GMT. With the RSI pulling below its 50 neutral mark and the MACD sliding back below its red signal line within the negative area, downside moves are more likely than upside ones in the coming sessions. The stochastic oscillator is also on a decline, though it’s not far away from oversold territory, suggesting that some consolidation may soon develop. The tentative support trendline from June’s low could ... (full story)