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USD/CAD bears likely to prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs75%63%15.8%
Shorts25%37%-46.9%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇗⇒

[ANNOUNCE]Downside risks dominated the US Dollar against the Canadian Dollar on Monday. The currency pair declined by 155 basis points or 1.16% during yesterday's trading session.[/ANNOUNCE]

As for the near future, the exchange rate could continue to decline. A breakout through the lower boundary of an ascending channel pattern is likely to occur within this session.

However, if the channel pattern holds, bullish traders could pressure the currency exchange rate towards the 1.3300 level today.

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