USD/CAD pressured by 100-hour SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 35% 40% -14.29%
Shorts 65% 60% 7.69%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

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

Meanwhile, the currency pair has moved closer to the upper boundary of a downtrend channel and could be set for a breakout. However, the rate needs to surpass the 100-hour simple moving average located near 1.3193.

Technical indicators on the four-hour time frame suggest a strong sell signal. Therefore, the aforementioned 100-hour SMA could pressure the USD/CAD currency exchange rate further south during the following trading session.  

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