Technical Analysis – USDCAD looks to rebound near ascending trendline
Posted on November 15, 2019 at 8:38 am GMTUSDCAD is testing the upward-sloping trendline drawn from the 3-month low of 1.3041 in the four-hour chart following Thursday’s pullback from the 1.3269 high. According to the fast Stochastics the odds for a rebound are increasing as the indicator is preparing to post a bullish cross below its 20 oversold mark. The RSI, however, is still around its 50 neutral mark and the red Tenkan-sen and Blue Kijun-sen lines look to be converging on the downside, signaling that any market action [..]