USD/CAD selling signals - Technical Analysis - Dukascopy Bank

Thu, 13 Aug 2020 08:03:38 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs58%56%3.1%
Shorts42%44%-4.2%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The US Dollar plunged by 111 pips or 0.83% against the Canadian Dollar on Wednesday. The currency pair breached the weekly support level at 1.3259 during Wednesday's trading session.

Technical indicators suggest selling signals on all time-frame. Most likely, sellers will continue to pressure the USD/CAD exchange rate lower during the following trading session.

On the other hand, the currency exchange rate could reverse from the current price level at 1.3234 and target the 50– hour simple moving average today.


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