USD/CAD bearish sentiment today

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs41%41%-1.0%
Shorts59%59%0.7%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellSell
Aggregate⇑⇒⇒

[ANNOUNCE]Downside sentiment has prevailed in the market since the previous trading session. Thus, allowing the US Dollar to edged lower about 91 base points against the Canadian Dollar.[/ANNOUNCE]

Everything being equal, most likely, the USD/CAD currency pair will continue its bearish momentum today. Bears could drag the exchange rate towards a support level formed by the weekly S1 at 1.3276 during the following session.

However, technical indicators flash strong buy signals on the 4(H) time-frame chart. Therefore, the monthly pivot point at 1.3317 could provide support for the currency exchange rate within this trading session.

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