Technical Analysis

USD/CAD breaches 50– and 100– hour SMAs
Thu, 12 Sep 2019 09:06:30 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs59%49%16.2%
Shorts41%51%-23.3%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellSellBuy
Aggregate

The US Dollar appreciated about 75 basis points against the Canadian Dollar on Wednesday. The currency pair breached both the 50– and 100– hour SMAs at 1.3170 during Wednesday's trading session.

Given that the exchange rate has dashed through 50– and 100-hour SMAs, bullish traders might aim for the 200-hour simple moving average at 1.3231 within this session.

However, technical indicators demonstrate that the USD/CAD currency exchange rate might edge lower during the following trading session.


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