USD/CAD could continue to trend bullish

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs72%70%2.6%
Shorts28%30%-6.6%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuySell
Aggregate⇗⇒⇘

[ANNOUNCE]The US Dollar edged higher by 129 pips or 1.06% against the Canadian Dollar on Wednesday. The USD/CAD currency pair tested the 1.2280 during Wednesday's trading session.
[/ANNOUNCE]
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could continue to trend bullish during the following trading session.

However, bullish traders might encounter a resistance line at the 1.2300 area during Thursday's trading session.

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