USD/CAD bullish momentum likely to continue

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

 Positions Today Yesterday Change
 Longs 25% 31% -22.7%
 Shorts 75% 69% 7.7%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Buy Sell Buy
 RSI(14) Sell Neutral Neutral
 Stochastic(5;3;3) Sell Neutral Neutral
 Alligator(13;8;5) Buy Sell Buy
 SAR(0.02;0.2) Buy Sell Sell
 Aggregate

The US Dollar appreciated about 94 base points against the Canadian Dollar on Wednesday. The exchange rate breached the 200-hour simple moving average at 1.3177 during yesterday's trading session.

The currency pair was moving towards the upper boundary of a junior ascending channel during the first half of Thursday's session.

Most likely, the currency exchange rate will aim at a swing high of 1.3302 during the following trading session.

However, a resistance level formed by the upper boundary of the channel pattern at 1.3250 could prevent such a scenario to occur.

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