The answer to that could be in the technical analysis of USD/CAD.
The USD/CAD is reaching a strong resistance around 1.0050 level.
The level can be spot on the weekly and daily charts. The technical indicators
favor further momentum for the dollar. On the weekly chart there is a possible break
of the RSI 50 level with MACD shifting to positive territory and stochastic pointing
up. On the daily graph, the indicators are positive too and have a way to go
up. On the other hand, upper Bollinger band gives additional resistance around
1.0050 area.
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