USD/CAD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
It was expected for a long time, and the Greenback has finally ended its surge against the Canadian Dollar. The currency exchange rate has rebounded against the combined resistance cluster of long term ascending channel patterns. As a result the medium term ascending channel has been broken. However, the most interesting part is the new descending channel, which recently passed the support of the 200-hour SMA. The channel is aimed at the 50.00% Fibonacci retracement level, which is located at the 1.3575 level, and most likely will be reached by the end of the week. Meanwhile, SWFX market sentiment is already close to being considered oversold, as 71% of open positions are short on Tuesday.
  Level  Rationale     Indicator 1H 4H 1D
R4 1.3734 Trend line     MACD (12; 26; 9) Sell Sell Buy
R3 1.3714 100-hour SMA     RSI (14) Neutral Neutral Neutral
R2 1.3703 Trend line     Stochastic (5; 3; 3) Sell Neutral Sell
R1 1.3688/98 55 and 200-hour SMAs; weekly PP     ADX (14) Neutral Neutral Buy
S1 1.3596 Weekly S1     CCI (14) Buy Neutral Neutral
S2 1.3580/75 Trend line; 50.00% Fibo     AROON (14) Buy Buy Buy
S3 1.3539 Weekly S2     Alligator (13; 8; 5) Sell Neutral Buy
S4 1.3527 Monthly PP     SAR (0.02; 0.2) Sell Sell Buy
          Aggregate ↘ → ↗
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