| Positions | Today | Yesterday | % Change | |
| Longs | 56% | 62% | -10.71% | |
| Shorts | 44% | 38% | 13.64% | |
| Indicator | 4H | 1D | 1W | |
| MACD (12; 26; 9) | Buy | Buy | Sell | |
| RSI (14) | Sell | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ⇒ | ⇗ | ⇒ | |
Contrary to expectations, USD/CAD did not initiate a retreat from the upper channel boundary but still managed to edge higher, even despite technical indicators that are clearly going south. As a result, the US Dollar pushed above the monthly R1 and reached a two-month high at 1.2665.
Given that the rate has surpassed this monthly pivot point, bulls might still want to push up to the weekly R1 at 1.27. This psychological resistance, however, should be considered as the ultimate intraday high, as the pair should eventually move lower. In addition, the daily chart demonstrates the existence of a medium-term descending channel.
The rate is currently testing the upper boundary of this dominant pattern, thus adding some ground to the overall bearish sentiment.