USD/CAD bears could prevail - Technical Analysis - Dukascopy Bank
Tue, 09 Feb 2021 08:48:22 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
73%
-0.7%
Shorts
27%
27%
2.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇗
⇘
The US Dollar fell by 48 pips or 0.37% against the Canadian Dollar on Monday. The USD/CAD currency pair dropped below a one-week low during the Asian session on Tuesday.
As for the near future, bearish traders could continue to pressure the exchange rate lower. The potential target for bears would be near the lower boundary of a descending channel pattern at 1.2675.
However, the weekly S1 at 1.2713 could provide support for the currency exchange rate within Tuesday's trading session.
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