USD/CAD decline likely to continue

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs48%44%9.0%
Shorts52%56%-8.3%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

The Greenback versus the Canadian Dollar maintained a junior descending channel pattern during Tuesday's trading session. The currency pair gained about 65 base points on Tuesday.

The exchange rate breached a support cluster formed by the weekly and monthly pivot points at 1.3312 during the European trading session on Wednesday.

Most likely, the short-term target for the currency exchange rate will be near the weekly S2 at 1.3272.

The USD/USD pair could make a pull-back up if the weekly support level as mentioned above holds.

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