USD/CAD bulls could prevail - Technical Analysis - Dukascopy Bank

Fri, 19 Mar 2021 08:16:33 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs71%74%-3.5%
Shorts29%26%8.7%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

Upside risks dominated the US Dollar against the Canadian Dollar on Thursday. The USD/CAD currency pair edged higher by 141 pips or 1.14% during Thursday's trading session.

The exchange rate is likely to continue to edge higher during the following trading session. The potential target for bullish traders will be near the weekly resistance level at 1.2628.

However, the 200– hour simple moving average at 1.2525 could provide resistance for the currency exchange rate within this session.


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