Technical Analysis – USDCAD neutral to bullish above 1.3400
Posted on March 14, 2017 at 3:23 pm GMTUSDCAD has been consolidating just above the key 1.3400 level after the rally from the end of February to the high of 1.3534 on March 9 stalled. The bias shifted to bullish after several weeks of consolidation at the start of 2017, when prices were trapped below the key 1.3200 level. Prices oscillated around the 200-day moving average from mid-January until they finally broke above it and rose through the 50-day moving average and key 1.3200 level. Clearing these barriers [..]