USD/CAD rebounds from 100-hour SMA

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

Positions Today Yesterday % Change
Longs 57% 62% -8.77%
Shorts 43% 38% 11.63%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The market reaction to a release of the US ISM Manufacturing PMI was not as high as expected and amounted only to 16.5 basis points. On the other hand, it was enough to break through a combination of the 55-hour SMA and the upper boundary of a junior descending channel near 1.2986. It should be noted that the above rise proceeded within a new channel up even though the ascension back to the weekly PP at 1.3063 was stopped by the 100-hour SMA at 1.3009. By the middle of the day it hasn't been clear yet, whether the above resistance level broke the channel. If it did, then the rate might slide back to the bottom edge of the senior channel. If it did not, the rate is expected to continue to climb within the junior formation until the end the day.

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