USD/CAD breaks resistance level - Technical Analysis - Dukascopy Bank
Wed, 28 Oct 2020 08:05:16 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
72%
-2.0%
Shorts
29%
28%
4.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇒
⇒
The US Dollar edged higher by 56 points or 0.38% against the Canadian Dollar on Tuesday. The currency pair breached the weekly R1 at 1.3189 during Tuesday's trading session.
All things being equal, the exchange rate is likely to continue to surge during the following trading session. The potential target for bulls would be near the monthly pivot point at 1.3243.
However, a resistance level at 1.3220 could provide resistance for the currency exchange rate in the shorter term.
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