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US Dollar Forecast: USD/CAD Reverses Ahead of November High
USD/CAD appears to have reversed ahead of the November high (1.3899) as it weakens for the third consecutive day, and the exchange rate may continue to give back the advance from the monthly low (1.3478) as the Relative Strength Index (RSI) falls back from overbought territory. US Dollar Forecast: USD/CAD Reverses Ahead of November High Keep in mind, the recent decline in USD/CAD has generated a sell signal in the RSI as the oscillator pushed below 70, but the exchange rate may continue to trade within the ascending channel from earlier this year if it tracks the positive slope in the 50-Day SMA (1.3569). In turn, ... (full story)