USD/CAD bulls likely to prevail - Technical Analysis - Dukascopy Bank

Wed, 21 Apr 2021 08:04:01 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs68%74%-8.5%
Shorts32%26%18.0%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuyBuy
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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