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USDCAD bears still in control
video USDCAD is moving lower today after bouncing off the July 14, 2023 upward sloping trendline. The downleg since the September 7, 2023 peak has been impressive but the path appears to be trickier at this stage, especially as the bulls have decided to react more forcefully. Interestingly, the convergence of the SMAs is probably opening the door to a sizeable move soon but it is also elevating the importance of the 1.3439-1.3460 region. Amidst this price action, the momentum indicators are currently split. On the one hand, both the RSI and Average Directional Movement Index (ADX) confirm the current bearish ... (full story)