USD/CAD could exceed 1.3040 level - Technical Analysis - Dukascopy Bank
Fri, 27 Nov 2020 07:54:12 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
70%
0.9%
Shorts
29%
30%
-2.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇘
The US Dollar surged by 33 pips or 0.26% against the Canadian Dollar on Thursday. The currency pair breached the 50– hour simple moving average during yesterday's trading session.
Everything being equal, the USD/CAD exchange rate is likely to continue to edge higher. Bullish traders might target the 1.3060 level within the following trading session.
However, a resistance cluster formed by the 100– hour SMA and the weekly S1 at 1.3038 could provide barriers for the currency exchange rate during the following trading session.
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