USD/CAD regains positions after plunge on Thursday

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

Positions Today Yesterday % Change
Longs 50% 46% 8.00%
Shorts 50% 54% -8.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Sell Buy Neutral
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The US Dollar was pressured southwards against the Loonie in the wake of the combined data release from both the US and Canada mid-Thursday. As a result, the Greenback fell 63 pips within the following 30 minutes and was then pushed even lower down to the 1.27 mark. 

Subsequently, the rate remained in the 1.2700/50 range until another data release mid-Friday sent the pair for a surge in the opposite direction towards the 55-hour SMA circa 1.2795. 

It is likely that the pair tries to recover its lost positions during the remaining hours of this trading week. In case the aforementioned moving average is breached, the ultimate high in this session is likely to be 200– and 100-hour SMAs near 1.2830.

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