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USD/CAD breakout occurs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs73%71%2.5%
Shorts27%29%-6.8%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellBuySell
Aggregate⇘⇗⇘

[ANNOUNCE]Downside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, a breakout occurred through the lower boundary of an ascending channel pattern.[/ANNOUNCE]

Given that a breakout had occurred, the currency pair could continue to edge lower during the following trading session. The potential target for bearish traders would be near the 1.2700 level.

However, a support line at 12740 could provide a barrier for the currency exchange rate within this session.

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