USD/CAD pauses the surge

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 47% 63% -34.04%
Shorts 53% 37% 30.19%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Neutral Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate
The US Dollar has finally stopped its massive appreciation against the Canadian Dollar. Due to that reason a full review of the technical situation was conducted at mid-day on Tuesday. 

It could be observed that the rates largely fundamental surge from a technical perspective had bounced off the resistance of a long term ascending channel.  

However, the rate could be also observable as being influenced by the weekly R1 and a 50.00% Fibonacci retracement level. These levels of significance combined had squeezed in the rate between the 1.2830 and 1.2850 levels.
 
It was expected that a break out should occur, as the 55-hour SMA approaches.

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