USD/CAD limited by 55-hour SMA

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

Positions Today Yesterday % Change
Longs 57% 64% -12.28%
Shorts 43% 36% 16.28%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The US Dollar maintained a stable position against the Loonie on Thursday, thus trading between 1.2580 and 1.2530 for the whole session.  

Even though the pair edged slightly lower today, no significant changes have occurred due to a strong support cluster located nearby. The 55-hour SMA and the weekly PP has supported the rate during the first part of Friday. This area, however, is likely to surrender under the bearish pressure. 

Given that another support formed by the 200– and 100-hour SMAs and the bottom channel boundary is located at 1.2485, gains in this session might be limited. 

Meanwhile, in case US Dollar is to appreciate, gains could be capped circa 1.2650.

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