USD/CAD gains limited by PP

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

Positions Today Yesterday % Change
Longs 35% 31% 11.43%
Shorts 65% 69% -6.15%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Neutral Buy Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The Greenback has maintained its gradual movement south. By mid-Tuesday, it has lost 75 base points against the Canadian Dollar. 

Following a test of the weekly pivot point at 1.3219, the USD/CAD currency exchange rate changed its market sentiment. This might indicate that the pair could continue its movement down later this week. However, the decline could encounter support set by the monthly S1 near the 1.3050 mark.

If and when the price move past a support level formed by the weekly PP at 1.3128. the nearest barrier could be the aforementioned monthly S1. Meanwhile, the more realistic downside target for today could be 1.3128.

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