USDCAD is set to close the month on a negative note despite the rally to a five-month high of 1.3860 on March 10th. Having dived back below its 20- and 50-day simple moving averages (SMAs) after the formation of a bearish doji candlestick near the 61.8% Fibonacci retracement of the 2020-2021 downtrend, the pair is currently eyeing the important support trendline that connects all the lows from June at 1.3485. Meanwhile, the Stochastic oscillator is trying to bounce from multi-year lows, increasing speculation that the latest bearish wave is overdone. That said, the RSI, although near its previous lows, has yet to ... (full story)