The Canadian Dollar has been one of the big winners from the rally in oil prices this year. The USD/CAD saw most of the post-Fed December gains evaporate and is currently trading at 1.2986, over 1600 pips below the January highs at 1.4688.
Notice the Stochastic indicator on the daily chart below. It has been in oversold territory for over one month now since late February. But things may be changing, notice how the indy is finally turning back higher above the 20 level, signalling a potential r…
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