USD/CAD tests support cluster at 1.3244 - Technical Analysis - Dukascopy Bank
Thu, 08 Oct 2020 08:08:59 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
74%
71%
5.1%
Shorts
26%
29%
-14.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Neutral
Buy
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇒
⇒
The US Dollar has declined by 96 pips or 0.72% against the Canadian Dollar since yesterday's trading session. The currency pair breached a support cluster formed by the weekly S1 and the monthly pivot point at 1.3243 on Thursday morning.
All things being equal, the USD/CAD exchange rate could continue to edge lower during the following trading session. Bearish traders are likely to target the 1.3200 level.
However, if the support cluster at 1.3244 holds, the currency exchange rate could make a brief pullback towards the 1.3300 area within this session.
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