The USDCAD has been on the decline since it hit its most recent high as visible in this H4chart. The pair has briefly breached its 200 DMA to the downside and the last few sessions have attempted to form a temporary bottom just below that which formed an ascending support line. This pair should rally into its descending resistance line. MACD has been extremely weak and formed a negative divergence which suggests potential future losses after a brief rally. RSI has reached oversold territory and has improved from extreme conditions...
