USD/CAD remains in channel

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

Positions Today Yesterday % Change
Longs 48% 54% -12.50%
Shorts 52% 46% 11.54%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Greenback has not changed its position against the Canadian Dollar during the last 24 hours, as it is still located just below the weekly R1 at 1.2548.  

Nevertheless, the slight fall that was apparent later on Monday did confirm the existence of a channel up. By and large, the 200– and 55-hour SMAs are gradually approaching the pair from below, thus squeezing the US Dollar in an even smaller range. 

The pair is likely to test this cluster located near 1.2520 and even breach it, just to find support near the 100-hour SMA and the weekly PP at 0.2490. 

If the channel is to hold, the testing of the 1.2520 mark should be followed by an increase in value, possibly up to the 1.2580 mark where the upper channel boundary is located.

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