Technical Analysis – USDCAD hits 5-year high
Posted on October 15, 2014 at 7:22 am GMTUSDCAD hit a new 5-year high today at 1.1343. The bullish trend remains intact. The pair has been making new highs since July. The market is above the 200-day moving average and the Ichimoku cloud is rising. The tenkan-sen and kijun-sen lines are positively aligned. Upside momentum is still strong as RSI is in bullish territory above 50. All these point to a bullish market structure. As long as there is a daily close above the key 1.1300 level, the [..]