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USDCAD maintains bullish bias in near term; immediate resistance at 50.0% Fibonacci mark
USDCAD is ready to complete two consecutive positive weeks after the rebound on the 1.2530 support level. When looking at the bigger picture, the pair has been trading within a rising sloping channel since September 2017, failing several times to exit from this range. The technical indicators, though, continue to send bullish signals, suggesting that the bullish market is not over yet. The MACD oscillator has crossed above the zero line, indicating that the market could strengthen a little bit more in the short-term. The Relative Strength Index (RSI) is standing in the positive area and is pointing to the upside ... (full story)