Technical Analysis – USDCAD needs rally above 1.3100 for bulls to gain traction
Posted on January 17, 2020 at 8:27 am GMTUSDCAD is retreating below the 50- period simple moving average (SMA) in the four-hour chart which nicely kept the bears under control on Thursday. Technically the pair could perform neutral to negative in the short-term as the RSI is slipping below 50 and the MACD is fluctuating marginally below its zero and signal lines, whilst in Ichimoku indicators, the red Tenkan-sen line which is moving below the blue Kijun-sen line is another discouraging signal. Below the Ichimoku cloud, the 1.3000 [..]