USD/CAD decline likely to continue - Technical Analysis - Dukascopy Bank

Mon, 19 Apr 2021 08:07:08 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs74%64%14.3%
Shorts26%36%-41.0%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellBuy
Aggregate

The US Dollar has declined by 80 pips or 0.63% against the Canadian Dollar since last Friday. The currency pair breached the support level at 1.2487 during the London session on Monday.

Given that the exchange rate has breached the 1.2487 area, bearish traders are likely to continue to pressure the USD/CAD pair lower during the following trading session.

However, a support level at 1.2445 could provide support for the currency exchange rate within this session.


Back to feed
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.