USD/CAD bounces off support - Technical Analysis - Dukascopy Bank
Mon, 29 Mar 2021 06:47:24 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
67%
67%
-0.8%
Shorts
33%
33%
1.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Neutral
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇘
The US Dollar declined by 49 pips or 0.39% against the Canadian Dollar on Friday. The decline was stopped by the lower boundary of an ascending channel pattern during Friday's trading session.
Everything being equal, the exchange rate is likely to continue to edge higher in an ascending channel pattern during the following trading session. The potential target for bullish traders will be at the 1.2680 area.
However, the weekly resistance level at 1.2648 could provide resistance for the currency exchange rate within this session.
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