USD/CAD falls to 1.2899

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

Positions Today Yesterday % Change
Longs 66% 64% 3.03%
Shorts 34% 36% -5.88%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

In line with expectations, the USD/CAD broke though the upper trend-line of a descending channel yesterday. Afterwards, it started to move towards the 200-hour SMA near 1.3020, but the release of five macroeconomic indicators at 12:30 GMT dragged the pair down by 80 pips. Because of this, the currency rate is might continue to fall to the combined support level formed by the weekly S1 at 1.2849 and the bottom boundary of a senior channel down. On the other hand, if a rebound occurs near the 1.2899 mark, this will confirm an existence of another junior descending channel. Yet, it is unlikely that Loonie will be able to recover from the freefall by the end of this trading week.

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