USD/CAD after BoC rate hike

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

Positions Today Yesterday % Change
Longs 59% 58% 1.69%
Shorts 41% 42% -2.44%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

To do the review of the USD/CAD currency exchange rate Dukascopy Analysts expected and first covered the Bank of Canada rate announcement.  

The rate was hiked. However, due to it being perfectly predicted prior to the event, the fundamental event only caused a large increase of volatility.

Due to that reason the short and medium technical pattern drawing for the time being has become obsolete. 

Although, one can look at the dominant trend lines and see that the pair only slightly bounced out of the drawn borders of two long term patterns. The patterns combined indicate that eventually the pair should decline.

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