USD/CAD moving towards weekly R3

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs53%57%-7.6%
Shorts47%43%8.5%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)SellBuySell
Aggregate

During the past 24 hours of trading, the US Dollar has depreciated about 0.45% in value against the Canadian Dollar. The 100-hour simple moving average provided support for the pair at 1.3108 during yesterday's session.

The currency pair is currently moving towards a resistance level formed by the weekly R3 at 1.3202.

If the resistance level holds, the exchange rate will make a brief retracement towards the 50-hour SMA at 1.3145 today.

However, technical indicators suggest that bears are likely to dominate the currency exchange rate within this session.

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