USD/CAD rises during half a year

The USD performed as a gainer in the USD/CAD pair during the whole week. The cross appreciated on Friday by testing the weekly R1 at 1.16 and hiking toward the weekly S2 at 1.27. As a matter of fact, the USD/CAD is still highly overbought, therefore, a retest of some previous lows should follow up sooner or later. Meanwhile, the cross continues to trade above the 55– 100– and 200– day SMA's.

The USD/CAD pair is bought in a minority of the case, since 37% of traders are long. Meanwhile, the 50– pip pending orders are set to buy for 75% of traders and 60% of all will buy once the pair reaches 100– pips.