USD/CAD bulls likely to prevail - Technical Analysis - Dukascopy Bank
Wed, 21 Apr 2021 08:04:01 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
68%
74%
-8.5%
Shorts
32%
26%
18.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Neutral
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇒
Upside risks dominated the US Dollar against the Canadian Dollar on Tuesday. The USD/CAD currency pair edged higher by 137 pips or 1.10% during yesterday's trading session.
Everything being equal, the exchange rate could continue to trend bullish during the following trading session. The possible target for buyers will be near the weekly R2 at 1.2689.
However, a resistance line at 1.2627 could provide resistance for the currency exchange rate within this session.
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