USDCAD price is looking for a higher low to gain positive momentum for recovery, trading alongside a supportive trendline and above EMA50
Relative strength indicators suggest forming positive divergence, indicating a potential upward movement in the USDCAD
The (USDCAD) price declined in its last intraday levels, in attempt to look for higher low to take a base that might help it to gain the required positive momentum for its recovery, amid the dominance of the main bullish trend and its trading alongside supportive trendline for this track, besides the continuation of the positive pressure that comes from its trading above EMA50, accompanied by the relative strength indicators reach to oversold levels, exaggeratedly compared to the price move, to suggest forming positive divergence.
Origin: Economies
