USD/CAD meets support level

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

Positions Today Yesterday % Change
Longs 45% 49% -8.89%
Shorts 55% 51% 7.27%
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

Downside risks prevailed in the market on Monday, thus allowing the US Dollar to declined by 82 pips or 0.63% against the Canadian Dollar. This crashed, however, was limited by the weekly support level at 1.2993.

Given that the 55-, 100-, and 200-hour simple moving averages are located above the price, it is likely that the exchange rate could continue its movement in the downtrend channel within the session. 

Everything being equal, it is likely that the USD/CAD currency exchange rate that the weekly S1 during the following trading hours. In addition, technical indicators favour a downward movement today.

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