USD/CAD rebounded from support level - Technical Analysis - Dukascopy Bank
Fri, 16 Apr 2021 07:49:15 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
64%
59%
7.0%
Shorts
36%
41%
-12.2%
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
⇘
⇒
⇒
The USD/CAD currency pair bounced off a support level at 1.2487 during Thursday's trading session. As a result, the US Dollar surged by 75 pips or 0.60% against the Canadian Dollar on Thursday.
All things being equal, the currency exchange rate is likely to continue to edge higher during the following trading session. The possible target for bullish traders will be near the 1.2600 level.
However, a resistance cluster at 1.2559 could still provide a barrier for buyers during the following trading session.
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