USD/CAD remains in range

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 62% 46% 25.81%
Shorts 38% 54% -42.11%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The US Dollar has maintained the same trading range against the Loonie, thus being located in the 1.2910/1.2815 area for the fifth consecutive session.  

The rate was testing its upper boundary for several hours this week, but nevertheless failed to move past this three-month high. The lower boundary is likewise supported by the 200-hour SMA and the weekly PP circa 1.2790. 

In terms of daily price changes, the pair lost 80 pips, compared to its Wednesday's high and thus breached the 55– and 100-hour SMAs in the process. 

It is expected that the Greenback could maintain this movement sideways, given the strength of both barriers. 

Nevertheless, various sets of significant data from both the US and Canada that could break this market stillness are to be released tomorrow at 1230GMT. 

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