FX.co ★ USD/CAD technical analysis for August 15, 2011

Recently the Canadian dollar has been trading indefinitely. The price is trapped between 50.0 and 61.8 levels of the long-term Fibonacci correction. As to Stochastic Oscillator, it demonstrates downside tendencies, and during the last two trading days it has even been showing divergence. The rally of the previous several weeks made most oscillators reach their highs. In particular, the Awesome Oscillator is forming the last peak now and is likely to form a sell signal today or tomorrow.