USD/CAD bounces off support - Technical Analysis - Dukascopy Bank
Fri, 09 Apr 2021 07:22:44 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
56%
58%
-4.3%
Shorts
44%
42%
5.4%
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 declined by 67 pips or 0.53% against the Canadian Dollar on Thursday. The currency pair breached the 50– and 200– hour simple moving averages during yesterday's trading session.
The exchange rate bounced off a support line formed by the lower boundary of an ascending channel pattern during the Asian session on Friday.
Most likely the USD/CAD pair could continue to edge higher throughout today's session.
However, a resistance level at 1.2627 could provide resistance for the currency exchange rate today.
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