USD/CAD breakout occurs

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

Positions Today Yesterday % Change
Longs 51% 50% 1.96%
Shorts 49% 50% -2.04%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The US Dollar appreciated about 65 base points against the Canadian Dollar on Monday. The currency pair breached the monthly pivot point at 1.3128 during the end of yesterday's session.

A breakout occurred through the lower boundary of a one-week ascending channel at 1.3118 during the morning hours of Tuesday's session.

Given that a breakout had occurred, the USD/CAD currency pair is likely to continue its decline and probably aim at a support cluster formed by the combination of the 100-and 200-hour SMAs and the weekly PP at 1.3087 within this session.

However, technical indicators flashes buy signal on both the 4(H) and daily time frames.

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