USD/CAD could slide lower

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs28%33%-17.2%
Shorts72%67%6.6%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralSell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The US Dollar declined by 59 basis points or 0.44% against the Canadian Dollar on Monday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session.

By and large, the exchange rate will most likely continue to decline during the following trading session. The potential target for the USD/CAD pair will be at the weekly support level at 1.3340.

Although, the currency exchange rate could slide a bit higher towards the 50– hour simple moving average at 1.3407 today.

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