USD/CAD possible surge today

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

Positions Today Yesterday % Change
Longs 38% 52% -36.84%
Shorts 62% 48% 22.58%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The USD Dollar plummeted about 115 base points against the Canadian Dollar on Wednesday. The currency pair breached both the 50– and 100-hour SMAs at 1.3280 and 1.3243 during yesterday's session. 

Everything being equal, it is likely that the USD/CAD currency exchange rate would make an upside movement today and potentially aim for yesterday's swing high of 1.3360.

Furthermore, technical indicators suggest that bullish momentum might come into play within this session.

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