USD/CAD below 1.32 mark

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

Positions Today Yesterday % Change
Longs 50% 44% 12.00%
Shorts 50% 56% -12.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The image on the USD/CAD has been zoomed out to put into perspective the free range, which is available for a decline. Even though the Greenback had suffered major losses against the Loonie in the previous session and fallen below the last weekly support, there are more losses to be suffered by the Buck. The currency exchange rate passed the first monthly support at the 1.3218 mark and fell below the 1.32 mark by the middle of Wednesday's trading session. The next notable support level is located only at the 1.2936 mark, where the second monthly support line is drawn. That is from a technical perspective. Meanwhile, it would be a more sound strategy to watch for the fundamental events in the markets, as the Fed is set to shake the markets at 18:00 GMT on Wednesday.

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