USD/CAD approaches channel border

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

Positions Today Yesterday % Change
Longs 38% 43% -13.16%
Shorts 62% 57% 8.06%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

As expected, the US Dollar surrendered its gains under the bearish pressure on Tuesday and thus pushed the exchange rate down to the 55-, 100-, and 200– hour SMAs near the 1.2957 regions.

Bears took control of the market after the USD/CAD currency exchange rate hit the weekly resistance level at the 1.3060 mark. This resulted in the rate to lose 137-pips by the end of trading day.

The general tendency seems to be southwards; however, given that this session is trading calmly, the Greenback lack the necessary momentum to breached the 1.2831 level today.  

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