USD/CAD pressure by SMAs

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs54%60%-11.3%
Shorts46%40%13.3%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuyBuySell
Aggregate

The US Dollar appreciated about 77 base points against the Canadian Dollar on Friday. After the currency pair tested the weekly R1 at 1.3108, the pair made a retracement down.

The 50-, 100– and 200-hour SMAs was pressuring the exchange rate lower during the first half of Monday's trading session. 

The USD/CAD pair could aim for a support level formed by the weekly S1 at 1.3014 within this session.

If the support line holds, a potential upside reversal could occur today.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.