| Positions | Today | Yesterday | % Change | |
| Longs | 47% | 35% | 25.53% | |
| Shorts | 53% | 65% | -22.64% | |
| Indicator | 4H | 1D | 1W | |
| MACD (12; 26; 9) | Sell | Sell | Buy | |
| RSI (14) | Buy | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Neutral | Buy | Neutral | |
| Alligator (13; 8; 5) | Sell | Sell | Buy | |
| SAR (0.02; 0.2) | Sell | Sell | Sell | |
| Aggregate | ⇘ | ⇘ | ⇒ | |
The US Dollar has continued to trade in a narrow descending channel against the Canadian Dollar. The decline was temporary stopped by the weekly support level at 1.3181 on Wednesday.
The currency pair is currently trading near a resistance level formed by the 50-hour simple moving average at 1.3249.
If the USD/CAD pair passes the 50-hour SMA, bullish traders would likely aim for a resistance cluster set by the 100-hour moving average and the monthly pivot point at 1.3309.
However, technical indicators suggest that the currency exchange rate could continue its decline today.