USD/CAD reaches long term resistance

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

Positions Today Yesterday % Change
Longs 72% 73% -1.39%
Shorts 28% 27% 3.57%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Buy Buy
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate ⇗ ⇒ ⇘

[ANNOUNCE]The USD/CAD currency exchange rate broke out of the triangle pattern soon after the analysis was published by the Duakscopy Research team.[/ANNOUNCE] By the middle of Wednesday's trading session the currency exchange rate had also broken through the resistance of the weekly R1, which is located t the 1.2536 level. As a result of the surge, the pair reached the upper trend line of a long term ascending channel pattern near the 1.26 mark. However, the ascent of the Greenback against the Loonie has ended. The currency pair is most likely going to form a new descending channel pattern. Before that occurs the rate will attempt to find support in the before mentioned first weekly resistance level.

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