USD/CAD potential target at 1.2640 - Technical Analysis - Dukascopy Bank
Wed, 07 Apr 2021 07:54:34 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
63%
70%
-10.9%
Shorts
37%
30%
18.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇘
⇒
⇒
Upside risks have dominated the USD/CAD currency pair since yesterday's trading session. The US Dollar has edged higher by 100 pips or 0.80% against the Canadian Dollar since Wednesday's session.
Buyers are likely to continue to pressure the exchange rate higher during the following trading session. The potential target for bullish traders will be near the 1.2640 area.
However, the currency exchange rate might make a brief pullback towards the 1.2587 level in the shorter term.
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