USD/CAD two scenarios likely

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

Positions Today Yesterday % Change
Longs 60% 61% -1.67%
Shorts 40% 39% 2.50%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Neutral Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The US Dollar traded with low volatility against the Canadian Dollar on Thursday. The currency pair was moving between the range of 1.3066 and 1.3006 during yesterday's trading session.

As shown on the 1(H) chart, the exchange rate is currently supported by a cluster formed by the weekly and the monthly PPs at 1.3006. If the USD/CAD currency pair holds this support level, it might move towards the weekly R1 at 1.3066 within this session.

If the currency exchange rate passes the support level as mentioned above, the price could target the 200-hour simple moving average at 1.2935 during the following trading session.

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