USD/CAD breaches the junior pattern

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 26% 28% -7.69%
Shorts 74% 72% 2.70%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The US Dollar introduced no significant changes to its overall price range against the Canadian Dollar on Monday, as the USD/CAD currency pair remained trading with low volatility.

Meanwhile, a breakout had occurred through the lower boundary of a junior ascending pattern as can be observed on the chart and could be set for a short-term decline during the following session.

According to technical indicators, some upside potential still exists. In the meantime, the currency exchange rate could make a brief retracement down targeting the 200-hour simple moving average at 1.3167.

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