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USDCAD increasingly bearish after breaking below uptrend line
video USDCAD came to a stop at the 1.3068 support coming from the swing low of February 1, after breaching the uptrend line drawn from 2017’s low. Sellers have kept the price below the trendline and therefore further declines are on the table, something also backed by the downward slopes of the 20-, 50- and 100-day simple moving averages (SMAs). The short-term oscillators reflect some easing but remain bearish suggesting more losses could unravel. The MACD has smoothed slightly but is still some distance below its red trigger line in the negative zone. The RSI has turned flat at the 30 level, while in the ... (full story)
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