USD/CAD brief retracement likely

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs42%44%-3.6%
Shorts58%56%2.6%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuySell
Aggregate

The US Dollar appreciated about 97 base points against the Canadian Dollar on Tuesday. The weekly pivot point at 1.3194 provided support for the exchange rate during yesterday's trading session.

Wednesday's trading session began with the bullish sentiment. However, the currency pair might make a brief retracement towards a support cluster formed by the 50– and 100– hour SMAs at 1.3234 today.

On the contrary, the weekly R1 and the monthly R1 near the 1.3266 area could provide support for the currency exchange rate during the following trading session.

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.