USD/CAD tests 200– hour SMA - Technical Analysis - Dukascopy Bank
Fri, 26 Feb 2021 08:34:28 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
75%
75%
0.0%
Shorts
25%
25%
0.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Buy
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
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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