USD/CAD to re-test upper trend-line

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

Positions Today Yesterday % Change
Longs 59% 52% 11.86%
Shorts 41% 48% -17.07%
Indicator 4H 1D 1W
MACD (12; 26; 9) Neutral Neutral Neutral
RSI (14) Sell Buy Sell
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The US Dollar is still showing weakness against major currencies and the Canadian Dollar is no exception. The currency exchange rate breached the lower boundary a large-scale triangle during the first part of Friday's trading session.  

Even if the pair declines further in this trading session, the weekly pivot point at 1.2424 could provide enough support for the USD/CAD pair to retrace north for a re-test of the upper trend-line. 

As shown on the chart, the rate remains relatively calm during the European trading session, and it is likely to stay like that until the next trading days.

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