USD/CAD rebounds on Monday

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

Positions Today Yesterday % Change
Longs 38% 35% 7.89%
Shorts 62% 65% -4.84%
Indicator 4h 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Neutral Sell Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

By having only one glance at the hourly chart of the USD/CAD currency exchange rate, it can be observed, that the currency pair is trading in an ascending channel pattern. Most recently, during the middle of Monday's trading, the currency rate found support in the mentioned pattern, which caused a rebound. The currency pair is expected to surge in the short term. In that case the pair is likely going to set out for the first weekly resistance, which is located at the 1.3546 mark. In addition, it can be expected that the US Dollar will face hindering resistance against the Canadian Dollar. The reason for such statement is the fact that by the second half of Monday's trading the pair faced the resistance put up by the 100 and 55-hour SMAs, respectively, at 1.3490 and 1.3501 levels.

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