USD/CAD with no changes

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 63% 61% 3.17%
Shorts 37% 39% -5.41%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Following a massive surge during the second half of Friday's trading session, the US Dollar halted unexpectedly near the 1.2340 mark—a level slightly below the monthly S1 and the 50.0% Fibonacci retracement. Subsequently, the rate has traded sideways, being supported by the 55-hour SMA. 

It is likely that the given movement is only a minor consolidation period that will be breached in the upcoming hours. The current support area is likewise reinforced by the 100-hour SMA, the weekly PP and the 38.2% Fibo. In case the 55-hour is breached, the subsequent levels could provide an unbreakable barrier. 

If a surge is to occur, gains could be capped near the weekly R1 and the 61.8% Fibo at 1.2430. Conversely, the most probable downside target is the 200-hour SMA. Such plunge, however, is unlikely.

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