USD/CAD breakout occurs

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

 Positions Today Yesterday Change
 Longs 38% 38% 0.0%
 Shorts 62% 62% 0.0%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Buy
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Sell Neutral Neutral
 Alligator(13;8;5) Sell Sell Buy
 SAR(0.02;0.2) Buy Sell Sell
 Aggregate

The US Dollar appreciated about 85 base points against the Canadian Dollar on Monday. The currency pair breached a resistance cluster formed by a weekly pivot point and the 50– and 100-hour SMAs at 1.3183 during Monday's trading session.

A breakout occurred through the upper boundary of a medium-term descending channel at 1.3200 during the first half of today's trading session.

Given that a breakout had occurred, it is likely that the will target a resistance level at 1.3236 within this session.

However, it is important to note that the 200-hour simple moving average at 1.3219 could hinder such movement today.

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