USD/CAD could bounce back - Technical Analysis - Dukascopy Bank
Thu, 22 Apr 2021 08:47:09 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
68%
4.1%
Shorts
29%
32%
-9.8%
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
⇗
⇒
⇒
On Wednesday, the Bank of Canada made a rate statement, which created a long-unseen move. As a result, the US Dollar plunged by 170 pips or 1.36% against the Canadian Dollar.
As for the near future, the exchange rate is likely to make a pullback towards a resistance cluster formed by the weekly pivot point and the 50– and 200– hour SMAs at 1.2537.
A potential downside reversal from the resistance cluster, as mentioned above, within this session.
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