USDCAD has been rising since the end of 2023 after the bounce off the 1.3175 support level and is currently reaching the short-term 20-day simple moving average (SMA) near 1.3373, but is still developing beneath the descending trend line. The MACD and the RSI are confirming the bullish move in the market as the first one is holding above its trigger line, and the latter is pointing marginally up near the neutral threshold of 50. However, the stochastic oscillator is suggesting an overstretched market and is ticking lower above the 80 level, indicating a potential downside correction. To attract new buyers, the bulls ... (full story)