USD/CAD is without support on Monday

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

Positions Today Yesterday % Change
Longs 54% 61% -12.96%
Shorts 46% 39% 15.22%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The US Dollar has fallen below the last notable support of the Dukascopy technical analysis system against the Canadian Dollar. Namely, the last combined support of the 55 and 100-hour simple moving averages were passed just below the 1.2600 mark. 

Due to that reason it is highly possible from a technical perspective that the US Dollar declines against the Canadian currency down to the 1.25 mark. Such a move, if measured from the bounce off from the resistance at 1.2620, total to 120 base points. 

However, it is highly likely that various trend lines will slow down the decline and there will not be a sudden decline down. Moreover, the Canadian central bank's interest rate announcement could provide a push on Wednesday.

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