USD/CAD encounters resistance

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

Positions Today Yesterday % Change
Longs 44% 52% -18.18%
Shorts 56% 48% 14.29%
Indicator 4H 1D 1W
MACD (12; 26; 9) Neutral Neutral Neutral
RSI (14) Buy Buy Neutral
Stochastic (5; 3; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The weekly pivot point at 1.2970 proved to have enough strength to drive the USD/CAD exchange rate south. Though, the 55– hour simple moving average is currently providing support for the rate at 1.2918. 

Bears dominance over the currency pair encounter a support formed by the combination of the 100– hour SMA and the lower boundary of an ascending channel. However, the pair has to surpass the aforementioned SMA. 

As for near future, the currency exchange rate is likely to continue to maintain the dominant ascending pattern. Nevertheless, a decline for the pair could be expected within this session.

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