USD/CAD trades near 1.2620 mid-Monday

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

Positions Today Yesterday % Change
Longs 50% 52% -4.00%
Shorts 50% 48% 4.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Sell Neutral Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

After testing a significant resistance cluster formed by the monthly PP, the 100– and 200-hour SMAs circa 1.2750 mid-Friday, the bearish sentiment took the upper hand and guided the US Dollar lower.  

The pair was fluctuating around the 55-hour SMA for the majority of session prior to reaching a two-week low of 1.2680 mid-Monday.

Indicators flash mixed signals in this session. Technical oscillators, however, are located either in the oversold area or near it, thus suggesting that a reversal might be due soon. 

A possible point of reversal could be near 1.2680, as the weekly S1 at 1.2647 might prove to be a too distant target. In terms of resistance, the Greenback could maintain its fluctuations around the 55-hour SMA and thus remain located below the 100-hour SMA.

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