USD/CAD two scenarios likely

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

The US Dollar traded with low volatility against the Canadian Dollar on Monday. The currency pair movement was about 20 base points.

The exchange rate breached the weekly pivot point at 1.3261 during the European trading session on Tuesday. If the currency exchange rate passes the weekly PP as mentioned above, the next target will be at the 1.3300 region.

On the other hand, if the weekly pivot point resistance level holds, a breakout through the lower boundary of an ascending channel pattern could be expected within this session.

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