USD/CAD tests 200– hour SMA - Technical Analysis - Dukascopy Bank

Fri, 26 Feb 2021 08:34:28 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs75%75%0.0%
Shorts25%25%0.1%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The US Dollar has surged by 161 pips or 1.30% against the Canadian Dollar since Thursday's trading session. The currency pair tested the 200– hour simple moving average at 1.2616 on Friday morning.

The exchange rate is likely to continue to edge higher during the following trading session. A breakout through the upper boundary of a descending channel pattern could occur.

However, a resistance level formed by the 200– hour SMA at 1.2624 could provide resistance for the currency exchange rate today.


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