USD/CAD could edge higher - Technical Analysis - Dukascopy Bank
Thu, 18 Feb 2021 08:54:29 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
72%
74%
-2.9%
Shorts
28%
26%
7.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇗
⇘
⇘
The US Dollar traded sideways against the Canadian Dollar on Wednesday. The currency pair made about 35 pips or 0.29% movement during yesterday's trading session.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could breakout from the consolidation zone at the 1.2711/1.2688 levels within this session.
However, the weekly pivot point at 1.2711 could still provide resistance for the currency exchange rate today.
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