Buyers may narrow their USD/CAD projections

Market’s preference for a firmer USD/CAD has been reflected in historic highs in the daily MACD series.

Equally significant in its bullish makeup is the MACD histogram, which has reached a peak not seen in the last six months.

Yesterday's higher MACD reading though, is an early warning that momentum has started to wane and that buyers may narrow their upward projections.