USD/CAD manages to move past 55-hour SMA

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

Positions Today Yesterday % Change
Longs 71% 66% 7.04%
Shorts 29% 34% -17.24%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

Friday's trading session marked no changes for USD/CAD, as the rate remained in the 1.2960/67 area for the whole session. The US Dollar was hindered by the 55-hour SMA for several hours early on Monday, but this level was breached, thus leaving the pair between the 55– and 100-hour SMAs by mid-session.

In terms of fundamentals, no market shakers are scheduled for today; thus, the Greenback could remain between these moving averages until early Tuesday. Apart from the 100-hour SMA, the northern side is guarded by the weekly PP at 1.2727.

It is likely that bulls are unable to push past this area and thus leave the rate near the 55-hour SMA. This scenario is likewise supported by technical indicators.

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