USD/CAD breakout occurs

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 Sell Neutral
 Alligator(13;8;5) Buy Sell Buy
 SAR(0.02;0.2) Buy Buy Sell
 Aggregate

The US Dollar edged higher over 90 base points against the Canadian Dollar on Thursday. A breakout occurred through the upper boundary of a junior ascending channel during Thursday's trading session.

Given that a breakout had occurred, it is likely that bulls will continue their presence in the market during the following trading session. The possible upside target will be near the weekly R2 at 1.3370.

Although, it is likely that the currency exchange rate makes a brief retracement down towards a support level at 1.3247.

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