USD/CAD breakout occurs

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

 Positions Today Yesterday Change
 Longs 34% 34% 0.0%
 Shorts 66% 66% 0.0%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Buy
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Buy Neutral Neutral
 Alligator(13;8;5) Neutral Sell Buy
 SAR(0.02;0.2) Sell Buy Sell
 Aggregate

During the past 24 hours of trading, the US Dollar has lost about 0.64% in values against the Canadian Dollar. The currency pair breached the lower boundary of an ascending channel pattern during the Asian session on Monday.

Given that a breakout had occurred, it is likely that the exchange rate continues its decline within this session. Bears could push the USD/CAD currency pair towards the 1.3200 mark.

Although, the currency exchange rate could reserve from the current price level and aim for a re-tests of the lower boundary of the channel pattern at 1.3251 within this session.

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