USD/CAD tests support at 1.3050

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs64%64%-0.3%
Shorts36%36%0.6%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The US Dollar appreciated about 69 base points against the Canadian Dollar on Tuesday. The currency pair tested the upper line of a descending trendline at 1.3092 at the end of yesterday's trading session.

After testing the upper line of the downtrend line, the exchange rate made a U-turn south. Currently, the pair is testing a support cluster formed by the 50– and 100-hour SMAs at 1.3054.

Technical indicators demonstrate that the USD/CAD currency exchange rate could continue its downward swing during the following trading session.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.