USD/CAD continues to depreciate

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 34% 54% -58.82%
Shorts 66% 46% 30.30%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The trade tension between the US and China continues to weaken the US Dollar against some other major currency. By the end of Tuesday's trading session, the USD/CAD currency pair has decline further south.

The most recent escalation is China's announcing plans for a heavy new tariff on dozens of US goods. This is a response to the Trump administration's publication on Tuesday of a list of Chinese export to be targeted with 25% tariffs. Due to that reason market fell sharply as the news of China's plans emerged.

Meanwhile, technical indicators suggest the decline of the currency exchange rate is likely to continue during the following trading session.

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