The bearish momentum continued to dominate the USD/CAD pair. However, during the middle of European session on Monday, the rate made some correctional movement north.
The combination of the 55-, 100, and 200-hour SMAs suggest that bears are likely to grow stronger until the currency pair breached the lower boundary of a dominant channel.
Technical indicators are providing mixed signals. All the same, it is expected for the pair to maintain its bearish movement.
The combination of the 55-, 100, and 200-hour SMAs suggest that bears are likely to grow stronger until the currency pair breached the lower boundary of a dominant channel.
Technical indicators are providing mixed signals. All the same, it is expected for the pair to maintain its bearish movement.