USD/CAD likely to maintains channel

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

Positions Today Yesterday % Change
Longs 41% 59% -43.90%
Shorts 59% 41% 30.51%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The price movement of the USD/CAD currency pair was guided by the 50-hour simple moving average on Tuesday. The US Dollar traded sideways against the Canadian Dollar yesterday.

As for the near future, it is likely that the US Dollar maintains the one-week ascending channel. The short-term target for bullish traders will be at the weekly R1 at 1.3277 today.

Although, the currency exchange rate might reverse from the current price level and aim at the 100-hour SMA at 1.3197 during the following trading session.

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