USD/CAD could edge higher - Technical Analysis - Dukascopy Bank
Wed, 14 Oct 2020 08:15:43 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
75%
-2.2%
Shorts
27%
25%
6.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇘
⇒
The US Dollar surged by 46 pips or 0.35% against the Canadian Dollar on Tuesday. The currency pair breached the 50– hour simple moving average at 1.3126 during yesterday's trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for USD/CAD pair would be at the 1.3200 level.
However, a resistance line formed by the 100– hour SMA at 1.3156 could provide resistance for the currency exchange rate within this session.
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