USDCAD trades between the converging simple moving averages (SMAs) with the sellers attempting to move underneath the 50-day SMA, after a deflection off the upper band of a two-month trading range. The signals from the tangled SMAs are indistinct. However, the MACD, although marginally above its red trigger line in the positive zone, looks to cross beneath it, while the RSI is flirting with the uptrend line, which has presently merged with the neutral 50 mark. Despite a near term negative demeanor, the momentum indicators are still in the bullish region’s and traders need to be cautious in case the bull’s pick-up. If ... (full story)