| Positions | Today | Yesterday | % Change | |
| Longs | 46% | 39% | 15.22% | |
| Shorts | 54% | 61% | -12.96% | |
| Indicator | 4H | 1D | 1W | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Neutral | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Neutral | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | ⇗ | ⇒ | ⇒ | |
The pair's movement during the first half of Wednesday was guided by the 55-hour SMA, as the rate was fluctuating around this line for several hours.
The given situation changed sharply at 1500GMT after the release of the BOC Rate Statement. The bank's cautious stance towards a possible rate hike early in 2018 weakened the Canadian Dollar, thus allowing its American counterpart to surge 100 pips within one hour after the release.
Its upward movement did not stop there, as the pair had managed to reach the monthly PP and the weekly R1 near 1.2830 by mid-today.
The most likely scenario favours a reversal from this area and a subsequent decline. The rate might be stopped somewhere circa 1.2750 due to a high concentration of support levels in this area.