USD/CAD decline likely to continue - Technical Analysis - Dukascopy Bank
Wed, 14 Apr 2021 08:19:22 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
57%
51%
9.9%
Shorts
43%
49%
-13.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇘
⇒
⇒
During the first half of Tuesday's trading session, the US Dollar surged by 64 pips or 0.51% against the Canadian Dollar. Though, the currency pair erased the earlier gains at the end of the day.
As for the near future, the USD/CAD exchange rate could continue to edge lower. Bearish traders are likely to target the 1.2500 level during the following trading session.
Nevertheless, the currency exchange rate could find support at the 1.220 area within this session.
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