USD/CAD plunges to fundamentals

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 59% 55% 6.78%
Shorts 41% 45% -9.76%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Neutral
Alligator (13; 8; 5) Buy Sell Neutral
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

USD/CAD managed to retain its upward momentum on Wednesday despite being hindered for several trading hours by the 200-hour SMA . After peaking at 1.3337, the Greenback entered a consolidation phase, returning near the 20-hour SMA at 1.3320. Better-than-expected Canadian data on Core Retail Sales mid-today resulted in a plunge, as the rate dashed through the 55-, 200- and 100-hour SMAs. In general, further depreciation is unlikely to be sustainable; thus, the base scenario favours the rate edging higher. The upper limit for the following session may be the 200-hour SMA at 1.3342 apparent on the daily chart. On Friday, Canada is to publish month-on-month CPI at 1230 GMT.

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