USD/CAD meets medium resistance

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

Positions Today Yesterday % Change
Longs 66% 56% 15.15%
Shorts 34% 44% -29.41%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Buy Neutral Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The US Dollar's rebound against the Canadian Dollar has on Tuesday done two notable moves.  

First of all the pair has passed the previously significant resistance of the 55-hour SMA. By the middle of Tuesday's trading the simple moving average had moved to support a monthly level of significance near the 1.2420 mark. 

Secondly, the pair had encountered the resistance line of a medium term channel down pattern near the 1.2440 level. 

In regards to the near future, the pair is set to be squeezed in between the two mentioned levels. Afterwards, a break out should occur.

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