USD/CAD set for a breakout

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

Positions Today Yesterday % Change
Longs 27% 25% 7.41%
Shorts 73% 75% -2.74%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The US Dollar has continued its upside momentum against the Canadian Dollar. The currency pair appreciated about 110 base points during the end of Friday's trading session.

The exchange rate was trading near the upper boundary of an ascending channel at 1.3579 during the morning hours of Monday's trading session and could be set for a breakout.

By and large, most likely, the currency exchange rate could make a brief retracement south towards a support cluster formed by the weekly PP and the 50-hour simple moving average at 1.3532 today.

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