USD/CAD could edge up - Technical Analysis - Dukascopy Bank
Fri, 23 Oct 2020 07:28:05 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
73%
0.7%
Shorts
27%
27%
-2.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇘
⇒
The US Dollar declined by 47 points or 0.35% against the Canadian Dollar on Thursday. The decline was stopped by a support level at the 1.3120 during yesterday's trading session.
Currently, the exchange rate is trading near the upper line of a descending channel pattern and could be set for a breakout.
If the breakout occurs, bullish traders are likely to target the 1.3200 level within this session.
However, if the channel pattern holds, a decline towards the monthly support level at 1.3100 could be expected within this session.
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