USD/CAD decline likely to continue - Technical Analysis - Dukascopy Bank
Thu, 11 Mar 2021 09:03:32 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
73%
72%
0.8%
Shorts
27%
28%
-2.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇒
⇒
⇘
The US Dollar has declined by 93 pips or 0.73% against the Canadian Dollar since yesterday's trading session. The currency pair was pressured lower by the 50, 100– and 200-hour SMA on Thursday.
Most likely, the USD/CAD exchange rate could continue to trend lower during the following trading session. The potential target for bearish traders will be near the 1.2540 level.
However, the weekly support level at 1.2572 could provide support for the currency exchange rate today.
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