Once again, the Canadian dollar has caught our attention.
Here are the factors that make opening longs on the US dollar atractive:
1. After another test of the 200-day exponential moving average, the US dollar is trying to bounce up.
2. The divergence of price and MACD histogram gives a preliminary signal to buy US currency
3. Looney's divergence persists with the Williams %R indicator
4. The pair approaches the level of 1.3207, where the Fibonacci retracement level is located
Conclusions: A long position on the US dollar is possible during its breakout past 1.3207. In this case, the target would be 1.3360.