USD/CAD consolidates after decline

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

Positions Today Yesterday % Change
Longs 49% 54% -10.20%
Shorts 51% 46% 9.80%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The US Dollar weakened against the Canadian Dollar, following the Canadian Consumer Price Index release on . The USD/CAD currency pair lost 106 pips or 0.81%. The data release had a significant impact on the currency pair after which the candles continue decreasing to the 1.3010 area.

The Statistics Canada released Canadian Consumer Price Index data that came out better-than-expected at 0.5% to the forecast of 0.1%. The actual data gives a good sign for the Canadian currency. Consumer prices account for a majority of overall inflation which means that rising prices lead the central bank to raise interest rates.

By and large, is likely the pair makes a brief move towards the 61.80% Fibo today.  

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