USD/CAD breakout occurs

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

Positions Today Yesterday % Change
Longs 40% 46% -15.00%
Shorts 60% 54% 10.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Buy
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The US Dollar gained about 96 base points against the Canadian Dollar on Friday. The currency pair breached both the 50– and 100-hour simple moving averages during Friday's trading session.

A breakout through the upper boundary of a descending channel pattern occurred during the first part of today's session.

Given that a breakout had occurred, it is likely that the currency exchange rate aims for the 200-hour SMA at 1.3362 during the following trading session.

However, a resistance level formed by the monthly pivot point at 1.3313 could hinder such bullish movement.

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