USD/CAD bulls likely to prevail - Technical Analysis - Dukascopy Bank
Thu, 08 Apr 2021 08:02:41 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
58%
63%
-9.2%
Shorts
42%
37%
12.6%
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
Buy
Aggregate
⇗
⇒
⇒
The US Dollar surged by 57 pips or 0.45% against the Canadian Dollar on Wednesday. The currency pair tested a resistance level at 1.2634 during yesterday's trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for the USD/CAD pair will be near the 1.2660 area.
However, the weekly resistance level at 1.2634 could still provide resistance for the currency exchange rate today.
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