USD/CAD limited by SMAs

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

Positions Today Yesterday % Change
Longs 43% 34% 20.93%
Shorts 57% 66% -15.79%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Sell Buy Neutral
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Buck has maintained its gradual movement northwards. By mid-Tuesday its gained 60 basis points against the Canadian Dollar.

Following a breakout from the 55-hour simple moving average, the USD/CAD pair also breached the upper boundary of a channel down. This might indicate that the rate is likely to continue moving upwards later this week. However, this surge could encounter resistance set by the weekly PP and the 100-hour SMA near the 1.2874 mark.

If the currency exchange rate moves past the aforementioned resistance cluster, the nearest barrier is the weekly R1, while a more realistic upside target for today is 1.2887 where the 200-hour SMA is located.

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