USD/CAD breaches monthly PP

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs42%44%-6.7%
Shorts58%56%4.8%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuySell
Aggregate

The US Dollar depreciated by about 35 basis points against the Canadian Dollar on Thursday. The currency pair breached the monthly pivot point at 1.3183 during the morning hours of Friday's trading session.

All things being equal, the USD/CAD exchange rate will most likely edge up within this session. Bulls might drive the price towards the upper boundary of an ascending channel pattern at 1.3296.

However, the surge might not be immediate, as the weekly R1 at 1.3217 could restrict such movement in the shorter term.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.