USD/CAD sells signal - Technical Analysis - Dukascopy Bank
Tue, 15 Dec 2020 09:22:57 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
70%
74%
-4.5%
Shorts
30%
26%
10.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇒
The US Dollar surged by approximately 60 points or 0.56% against the Canadian Dollar on Monday. The currency pair breached a resistance cluster at 1.2768 during yesterday's trading session.
The exchange rate is currently trading near the resistance cluster formed by the weekly pivot point and the 100– hour SMA at 1.2762.
If the cluster holds, the USD/CAD pair is likely to continue to edge lower in a descending channel pattern within this session.
However, if the currency exchange rate breaks the resistance cluster, a surge towards the weekly R1 at 1.2830 could be expected today.
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