USD/CAD short period of consolidation

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 62% 64% -3.23%
Shorts 38% 36% 5.26%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Neutral Neutral
RSI (14) Sell Sell Sell
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The Buck continues its neat journey in an ascending channel against the Loonie. By the close of Tuesday's trading session, the pair had breached a resistance cluster set by the weekly and monthly PPs near 1.2740. The currency pair is moving upwards to test the upper boundary of a junior channel where the weekly R2 is located. The 55-, 100-, and the 200-hour SMAs indicate that the surge is likely to continue until the pair breach the aforementioned pivot point. As for near future, bulls are likely to continue their dominance over this exchange rate until it books a new high at the monthly R1.

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