USD/CAD bears could prevail - Technical Analysis - Dukascopy Bank
Wed, 24 Feb 2021 08:30:49 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
74%
70%
5.0%
Shorts
26%
30%
-14.4%
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 has declined by 82 pips or 0.65% against the Canadian Dollar since yesterday's trading session. The currency pair was pressured lower by the 50– hour simple moving average.
Technical indicators suggest selling signals on all time-frame charts. Most likely, the USD/CAD exchange rate could continue to edge lower during the following trading session.
However, the weekly S1 at 1.2554 could provide support for the currency exchange rate within this session.
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