USD/CAD continues its path lower

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

Positions Today Yesterday % Change
Longs 49% 51% -4.08%
Shorts 51% 49% 3.92%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The chart of the USD/CAD pair has not changed since July 26. Namely, the junior descending pattern is still active.

The exchange rate has continued its decline, as low levels are booked in the junior descending channel. However, it is important to note that the currency pair has been moving sideways for the past three consecutive trading session.

It was spotted on Friday that the 1.3091 mark is providing a steep resistance to the US  Dollar against the Canadian Dollar. Meanwhile, the 55-hour simple moving average is now located below the price, this might indicate an upside potential today.

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