USD/CAD two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 17 Feb 2021 07:53:42 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
74%
75%
-1.5%
Shorts
26%
25%
4.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇘
⇘
Upside risks dominated the US Dollar against the Canadian Dollar Tuesday. The USD/CAD currency pair has surged by 105 pips or 0.83% since yesterday's trading session.
Currently, the exchange rate is trading near a resistance cluster formed by the weekly pivot point and the 200– hour simple moving average at 1.2711.
If the resistance cluster holds, a decline towards the 1.2600 area could be expected today.
However, if the currency exchange rate breaks the cluster, bulls could pressure the price higher within this session.
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