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USD/CAD is hitting a ceiling

By : Mex Group

USD/CAD is hitting a ceiling

14 September 2016, 04:02

Although the 50- and the 200-period SMAs are positively aligned, the upside in USD/CAD has stalled in recent trading.

A 4hr stochastic above its median line don’t necessarily favours a liquidation of long-term buy positions, but the 1-hour stochastic is increasingly pointing that it could be necessary soon.

The oscillator has been precariously perched above the 70% level for more than eight hours and has just abandoned overbought territory with the recent hourly close. We see bias for a roll back lower in the short-term.

USD/CAD 0001-01-01T00:00:00
0/0 (0%)
H0 L0

S3S2S1R1R2R3
1.3143733342488 1.3150066534678 1.3154333432515 1.3164933522542 1.3171266714731 1.3175533612569

Trend IndexOB/OS Index
Bullish Neutral