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USDCAD in battle with 1.3340 familiar resistance

From xm.com

{video} USDCAD gathered strong bullish momentum on Wednesday and is currently trading near the key 1.3340 resistance level, which the bulls could not successfully overcome for more than three months now. Technically there is more bullish fuel in store as the RSI has left the neutral territory and adopted an upward direction above 50, while the MACD is also picking up strength above its red signal line. Questions however remain about whether the price can close decisively above the 1.3340 ceiling. If this is the case and the pair improves above that barrier, traders would like to see a rally above the 1.3381 peak on ... (full story)

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  • Category: Technical Analysis