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USDCAD in neutral bias holding below 50.0% Fibonacci level
USDCAD remains below the 50.0% Fibonacci retracement level of 1.2925 of the downleg from 1.3800 to 1.2060 over the last 10 days and creates a narrow range with upper boundary the 1.2925 and lower boundary the 1.2800 handle. The price is also developing above the 40-day simple moving average (SMA) and has so far not slipped below it. 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 neutral signals, but they are still standing in positive zones. The MACD ... (full story)