{video}USDCAD had staged a massive rebound after finding its feet at the one-year low of 1.3091 in mid-July. However, the pair has been undergoing a downside correction since its rejection at a fresh five-month peak of 1.3693 last week, with short-term oscillators suggesting that sellers have gained total control. If the price extends its retreat, immediate support could be found at the 200-day simple moving average (SMA), currently at 1.3462. Sliding beneath that floor, the pair could retreat towards the May resistance of 1.3385, which might now serve as support. A violation of that territory could open the door for ... (full story)