USD/CAD remains near 1.2500 - Technical Analysis - Dukascopy Bank
Tue, 20 Apr 2021 08:37:07 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
74%
74%
-0.7%
Shorts
26%
26%
2.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇘
⇒
The US Dollar surged by 68 pips or 0.55% against the Canadian Dollar on Monday. The currency pair tested the upper line of a descending channel pattern during Monday's trading session.
The exchange rate reversed from the upper boundary of the channel pattern during the Asian session on Tuesday. Most likely, bearish traders could continue to drive the USD/CAD pair lower today.
However, the currency exchange rate might find support at 1.2487 during the following trading session.
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