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USDCAD flirts with bullish cross within SMAs; neutral mode
USDCAD found strong resistance near 1,4150 and reversed south again, retaining its neutral structure in the short-term picture. Currently, the price is eating a portion of its bold gains it earned in the previous days and the RSI and the stochastics on the four-hour chart are pointing to a negative session as they are decelerating. The 23.6% Fibonacci retracement level of the down leg from 1.4670 to 1.3855 at 1.4050 has been a key support in previous sessions and could remain in focus, while traders will be also closely looking the bullish cross between the 20- and 40-period simple moving averages (SMAs). Falling ... (full story)