USD/CAD buyers might prevail - Technical Analysis - Dukascopy Bank
Wed, 24 Mar 2021 08:07:47 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
74%
-3.0%
Shorts
29%
26%
7.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Buy
Stochastic(5;3;3)
Neutral
Sell
Buy
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇘
⇒
The US Dollar surged by 63 pips or 0.50% against the Canadian Dollar on Tuesday. The 50– hour simple moving average provided support for the currency pair during Tuesday's trading session.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could continue to trend higher during the following trading session.
However, buyers are likely to encounter a resistance level at the 1.2600 area within the following trading session.
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