USD/CAD decline likely to continue

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs74%64%14.3%
Shorts26%36%-41.0%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellBuy
Aggregate⇒⇘⇒

[ANNOUNCE]The US Dollar has declined by 80 pips or 0.63% against the Canadian Dollar since last Friday. The currency pair breached the support level at 1.2487 during the London session on Monday.[/ANNOUNCE]

Given that the exchange rate has breached the 1.2487 area, bearish traders are likely to continue to pressure the USD/CAD pair lower during the following trading session.

However, a support level at 1.2445 could provide support for the currency exchange rate within this session.

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