USD/CAD decline to continue - Technical Analysis - Dukascopy Bank
Tue, 24 Nov 2020 08:12:56 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
75%
-5.3%
Shorts
29%
25%
12.9%
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)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇘
The US Dollar soared by 53 pips or 0.41% against the Canadian Dollar on Monday. The surge was stopped by the 200– hour simple moving average during yesterday's trading session.
Tuesday's trading session opened with bearish momentum. Most likely, bears will continue to pressure the exchange rate lower today. The potential target would be at the weekly S2 at 1.2983.
However, a support level at 1.3037 could provide support for the currency exchange rate in the shorter term.
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