USD/CAD reaches two-month high

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

Positions Today Yesterday % Change
Longs 51% 56% -9.80%
Shorts 49% 44% 10.20%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

USD/CAD has been appreciating for the past three trading sessions even despite strongly converging technical indicators, thus being located near the weekly R1 at 1.2701 mid-Wednesday.  

After testing the upper boundary of the senior channel down for several hours, the US Dollar gained strength and made a breakout of this long-term pattern and consequently reached a two-month high at 1.2720. 

It is likely that the rate tries to move closer to the weekly R2 at 1.2764, as supported by technical indicators. However, the rate should soon edge lower just to make a rebound from the senior channel circa 1.2640—the area is reinforced by the monthly R1 and the 55-hour SMA circa 1.2640.

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