{video}USDCAD has been in a steady downtrend since late May, generating a clear structure of lower highs and lower lows. Moreover, the technical picture deteriorated even further when the price broke below the base of the symmetrical triangle pattern, which triggered a massive decline towards a fresh 9-month low of 1.3137. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the RSI bounced off the oversold zone but remains deep in the negative territory, while the MACD is holding below both zero and its red signal line. Should the bears try to push the price lower, ... (full story)