USD/CAD bounces off support - Technical Analysis - Dukascopy Bank
Tue, 20 Oct 2020 08:28:04 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
72%
71%
1.4%
Shorts
28%
29%
-3.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇗
⇒
⇒
The US Dollar edged higher by 47 points or 0.36% against the Canadian Dollar on Monday. The currency pair breached the 100– and 200– hour SMAs during yesterday's trading session.
Everything being equal, the exchange rate is likely to continue to edge up during the following trading session. The potential target for bulls would be near the monthly pivot point at 1.3243.
On the other hand, the 50– hour simple moving average at 1.3188 could provide resistance for the currency exchange rate within this session.
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