USD/CAD surges 117 pips since mid-Monday

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

Positions Today Yesterday % Change
Longs 47% 50% -6.38%
Shorts 53% 50% 5.66%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

After testing the 1.2680 area on Monday, bulls prevailed and thus sent the US Dollar for a 85-pip surge up to 1.2770.  

This strong upside momentum did not allay there, as the pair resumed its previous direction after several hours and pushed up to the psychological 1.28 mark.  

Technical indicators are located in the bullish area, thus pointing to more upside potential. However, it is likely that the aforementioned surge is followed by a period of decline or consolidation. 

The rate might still push higher for the weekly R1 at 1.2810; however, it should subsequently fall back down to the combined support of the 200-hour SMA and the weekly and monthly PPs in the 1.2750/40 area.

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