USD/CAD likely to decline

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 appreciated about 78 base points against the Canadian Dollar on Thursday. The surged was stopped by a resistance level formed by the 200-hour simple moving average at 1.3238.

As for the near future, it is likely that the currency exchange rate will edge lower towards a support level at 1.3182.

A potential upside movement could be expected from the support level as mentioned above.

However, technical indicators demonstrate that the USD/CAD exchange rate will end this week's trading session with a decline.

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