USD/CAD faces SMAs

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

Positions Today Yesterday % Change
Longs 51% 53% -3.92%
Shorts 49% 47% 4.08%
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 Greenback remained below the 1.3250 mark against the Canadian Dollar. The main reason for that is the fact that the resistance of the 55-hour SMA managed to gold off all of the attempts, which were made by the Buck to gain ground against the Loonie. The SMA poses as a vital point in the moves of the currency pair, as two scenarios are possible. First the pair might break the resistance of the SMA and surge up to the newly calculated weekly PP, which is located at the 1.3302 mark. In this case a 50 base point gain could be expected. On the other hand the pair might fall and face the 100-hour SMA at 1.3340. However, if the 100-hour SMA is passed, the pair could fall as low as the monthly S2 at the 1.3155 mark.

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