USD/CAD bears could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs73%73%-0.7%
Shorts27%27%2.0%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellBuySell
Aggregate⇘⇗⇘

[ANNOUNCE]The US Dollar fell by 48 pips or 0.37% against the Canadian Dollar on Monday. The USD/CAD currency pair dropped below a one-week low during the Asian session on Tuesday.
[/ANNOUNCE]
As for the near future, bearish traders could continue to pressure the exchange rate lower. The potential target for bears would be near the lower boundary of a descending channel pattern at 1.2675.

However, the weekly S1 at 1.2713 could provide support for the currency exchange rate within Tuesday's trading session.

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