USD/CAD brief retracement likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs57%70%-22.4%
Shorts43%30%29.5%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuySellSell
Aggregate

The US Dollar surged by 248 pips or 1.85% against the Canadian Dollar on Thursday. The USD/CAD currency pair breached the 1.3650 level during yesterday's trading session.

Given that the exchange rate has reversed from the upper boundary of a descending channel pattern, a declined towards the weekly pivot point at 1.3537 could be expected within this session.

A potential upside reversal could occur from the weekly support level at 1.3537 during the following trading session.

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