USD/CAD decline could continue - Technical Analysis - Dukascopy Bank
Tue, 17 Nov 2020 09:42:07 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
74%
-4.5%
Shorts
29%
26%
10.9%
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
Neutral
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇒
⇘
The US Dollar has declined by 93 basis points or 0.77% against the Canadian Dollar since yesterday's trading session. The currency pair breached the 200– hour SMA on Tuesday morning.
Most likely, the exchange rate could continue to edge lower during the following trading session. The potential target for bears would be near the weekly support level at 1.2980.
However, the 200– hour simple moving average at 1.3075 could provide support for the currency exchange rate within this session.
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