USDCAD extended its losses and is currently trading not far above the 33-month low of 1.2620 hit on Wednesday. The bias in the very-short-term also looks bearish as indicated by the RSI which is standing in the negative area. However, the stochastic is indicating an oversold market as the %K and %D line are positively aligned and are both moving above the 20 level. Further declines may meet support around the multi-month trough of 1.2620. Not far below, support could [..]
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