USD/CAD decline likely to continue - Technical Analysis - Dukascopy Bank
Fri, 12 Mar 2021 08:23:23 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
72%
73%
-0.8%
Shorts
28%
27%
2.0%
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
⇒
⇒
⇘
Downside risks pressured the US Dollar against the Canadian Dollar on Thursday. As a result, the exchange rate fell by 93 pips or 0.73% during Thursday's trading session.
All things being equal, the currency pair is likely to continue to edge lower within this session. The potential target for the USD/CAD pair will be near the weekly S2 at 1.2492.
Although, the currency exchange rate might make a brief pullback towards a resistance level at 1.2571 in the shorter term.
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