The USDCAD pair is showing clear respect to a key moving average today while trading within the middle of a flag formation. There is a possible double top in formation, yet for the time being I see direction being determined by this 50 period SMA. The 50 period SMA has provided significant resistance throughout 2014 and appears to be doing so yet again. The shooting star and doji candles seen in the past two four hour periods show a clear element of indecision in the market. The stochastic oscil…