USD/CAD bouncing between SMAs

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

Positions Today Yesterday % Change
Longs 56% 47% 16.07%
Shorts 44% 53% -20.45%
Indicator 4H 1D 1W
MACD (12; 26; 9) Neutral Neutral Neutral
RSI (14) Neutral Sell Sell
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The US Dollar continues its bearish path against the Canadian Dollar, the pair is gradually moving in a newly drawn downtrend line. The reason for this decline could be related to the positive data release of the Canadian on Friday.  

During the second half of Monday's trading session, the currency pair has been bouncing between SMAs. The 55-hour SMA was providing resistance at 1.2681 and the 200 –hour SMA was proving support at 1.2600. 

Regarding the near future, the rate is likely to regain some of its lost points. In addition, technical indicators flash mixed signals.

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