USD/CAD bears could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs74%70%5.0%
Shorts26%30%-14.4%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The US Dollar has declined by 82 pips or 0.65% against the Canadian Dollar since yesterday's trading session. The currency pair was pressured lower by the 50– hour simple moving average.

Technical indicators suggest selling signals on all time-frame charts. Most likely, the USD/CAD exchange rate could continue to edge lower during the following trading session.

However, the weekly S1 at 1.2554 could provide support for the currency exchange rate within this session.

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