USDCAD rallies to 2002 High!!

Forex Analysis on this pair shows the Dollar strength is coming into play against the Canadian Dollar with price breaking a high from back in 2002.  This is a significant level of resistance that is been broken as I write this.

We can see that this trend started back in 2012 and of late has been trading above both the 50ma and 200ma on the daily timeframe.  With the moving averages well spreadout as well we can see that t here has been strength building up in this trend.

RSI is trading above 50 indicating an upward trend.  MACD lines are both above the midline indicating the upward trend but the histograms are still below due to the previous pull back.

What would be interesting to see tonight is where this daily candle closes and will that MACD histogram be back above the midline to show further buying potential?

rses

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