USD/CAD bearish movement today

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

Positions Today Yesterday % Change
Longs 59% 56% 5.08%
Shorts 41% 44% -7.32%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Buy
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The US Dollar appreciated by 62 base points against the Canadian Dollar on Monday. The currency pair breached the monthly pivot point at 1.3036 during the end of the previous trading session.

However, today's session begins with  51 pips decline. This bearish momentum could push the rate past the 50– and 100-hour simple moving average at 1.3030 within this trading session.

Even though this downside movement continues during the following trading hours, it is unlikely to reach the lower boundary of a medium-term ascending channel pattern today.

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