Technical Analysis – USDCAD plummets to 8½-month low; negative bias remains

USDCAD is plunging today towards a fresh eight-and-a-half month low near 1.3030, following the pullback on the 1.3145 resistance level, which overlaps with the 20-day SMA. Technically, the RSI indicator is declining in negative territory, approaching the oversold zone, while the stochastic oscillator posted a bearish crossover within the %K and %D lines in the […]