USD/CAD tests 200– hour SMA - Technical Analysis - Dukascopy Bank
Tue, 09 Mar 2021 08:32:29 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
75%
70%
5.6%
Shorts
25%
30%
-16.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇗
⇒
⇘
During the first half of Monday's trading session, the US Dollar rose by 69 pips or 0.54% against the Canadian Dollar. However, the currency pair erased the earlier gains during the end of the day.
Everything being equal, the USD/CAD exchange rate could continue to decline in a descending channel pattern today. The possible target for bearish traders will be near the weekly S1 at 1.2572.
However, the 200– hour simple moving average at 1.2640 could still provide support for the currency exchange rate within this session.
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