USD/CAD could edge higher - Technical Analysis - Dukascopy Bank
Mon, 22 Mar 2021 08:43:03 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
70%
71%
-0.9%
Shorts
30%
29%
2.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Buy
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇗
⇘
`
The US Dollar surged by 66 pips or 0.53% against the Canadian Dollar on Friday. The currency pair was pressured by the 50– hour simple moving average during Friday's trading session.
Everything being equal, the USD/CAD exchange rate could continue to edge higher during the following trading session. The potential target for buyers will be near the weekly R1 at 1.2573.
However, the 200– hour simple moving average at 1.2508 could provide resistance for the currency exchange rate today.
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