USD/CAD moving towards 200-hour SMA

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

Positions Today Yesterday % Change
Longs 50% 52% -4.00%
Shorts 50% 48% 4.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The US Dollar depreciated about 90 pips against the Canadian Dollar on Friday. This decline was temporary stopped by the 50-hour simple moving average at 1.3069 during the end of Friday's session.

Today's session begins with a bearish momentum. By the middle of the European trading session on Monday, the currency pair has broken the lower boundary of a one-week ascending channel at 1.3103.

Given that a breakout has occurred, the currency exchange rate could aim at a support level formed by the 200-hour SMA near the 1.3060 region in the coming hours.

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