USD/CAD trading sideways

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

Positions Today Yesterday % Change
Longs 44% 48% -9.09%
Shorts 56% 52% 7.14%
Indicator 4H 1D 1W
MACD (12; 26; 9) Neutral Neutral Neutral
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The US Dollar has been moving sideways against the Canadian Dollar since April 25. The currency pair has been stranded between a resistance level at 1.2902 set by the monthly R1 and a support at 1.28200 formed by the monthly PP.

The USD/CAD exchange rate has bounced off the lower boundary of an ascending channel. By the middle of Friday's trading session, the combination of the 55– and the 100– hour SMAs was providing support for the rate at 1.2849.

Everything being equal, a breakout could be expected from the sideways movement during the following trading session. However, technical indicators flash mixed signals.

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