USD/CAD tests 50– hour SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs37%27%27.2%
Shorts63%73%-15.8%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

During the first half of yesterday's trading session. The US Dollar declined by 76 basis points or 0.55% against the Canadian Dollar. However, the currency pair regained its lost points at the end of Tuesday's session.

Currently, the exchange rate is trading near a resistance level formed by the 50– hour simple moving average at 1.3955.

If the resistance level holds, bearish traders would continue to pressure the price lower within the following session.

But, if the currency exchange rate breaks the 50– hour SMA, a surge towards the 1.4030 area could be expected today.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
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.