USD/CAD stranded between SMAs

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

Positions Today Yesterday % Change
Longs 57% 53% 7.02%
Shorts 43% 47% -9.30%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

Upside risks prevailed in the market on Friday, thus allowing the USD/CAD currency pair to gained about 71 base points. The pair breached the 200-hour simple moving average at 1.3096 during the end of Friday's session.

The exchange rate was stranded between SMAs during the first part of Monday's session. The 100-hour SMA at 1.3114 was providing resistance for the rate, while a support cluster formed by the 50– and 200-hour SMAs was providing support for the pair at 1.3100.

A breakout from the SMAs is likely to occur within this session. Meanwhile, technical indicators suggest a southern breakout.

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