USD/CAD two scenarios likely - Technical Analysis - Dukascopy Bank
Fri, 23 Apr 2021 07:56:29 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
72%
71%
1.8%
Shorts
28%
29%
-4.7%
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)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇒
The US Dollar declined by 38 pips or 0.30% against the Canadian Dollar on Thursday. The USD/CAD currency pair found support at 1.2476 during yesterday's trading session.
If the exchange rate breaks the support level at 1.2476, bearish traders are likely to pressure the price lower towards the 1.2420 area during the following trading session.
However, if the support line holds, the currency exchange rate might aim for the 1.2580 area today.
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