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USD/CAD Pulls Back Off 100-Hour MA to Trade at About 1.4024
On Thursday, the USD/CAD currency pair pulled back from the session highs of about 1.4061 to trade at about 1.4024. In the 60-minute chart, the currency pair trades within a descending channel formation. The pair descended to trade slightly below the 100-hour moving average line. As a result, the currency pair is on the verge of entering the oversold levels of the 14-hour RSI. USD/CAD Fundamentals Overview From a fundamental perspective, the USD/CAD currency pair trades during a relatively busy period in the U.S. market. On Thursday, the initial jobless claims for the week ending November 29 missed the expectation of ... (full story)