USD/CAD likely to edge higher - Technical Analysis - Dukascopy Bank
Tue, 16 Mar 2021 07:49:31 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
74%
75%
-0.9%
Shorts
26%
25%
2.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Buy
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇘
The US Dollar rose by 59 pips or 0.47% against the Canadian Dollar on Monday. The surge was stopped by the 50– hour simple moving average during yesterday's trading session.
The exchange rate breached the 50– hour SMA at 1.2490 during the Asian session on Tuesday. Most likely, the USD/CAD pair could continue to edge higher within this session.
A potential reversal could occur from a resistance level formed by the weekly pivot point at 1.2545 during the following trading session.
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