Technical Analysis – USDCAD under negative tension; sentiment remains bearish
Posted on August 11, 2020 at 9:15 am GMTUSDCAD has pushed under the flat blue Kijun-sen line at 1.3313. An improvement from the 5½-month low of 1.3232 was capped by the Ichimoku cloud, which had merged with the falling 100-period simple moving average (SMA). This resulted in realignment with the bigger negative bearing, something also backed by the falling SMAs and the short-term oscillators, as well as the downward direction of the red Tenkan-sen line. The MACD is under its red trigger line but just above the zero [..]