USD/CAD awaits FOMC Statement - Technical Analysis - Dukascopy Bank

Wed, 28 Apr 2021 08:04:05 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs73%70%3.8%
Shorts27%30%-10.1%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate

The USD/CAD currency pair continued to trade sideways during yesterday's trading session. The US Dollar traded near the 1.2385 level against the Canadian Dollar on Tuesday.

The exchange rate is likely to continue to consolidate above the support level at 1.2385 within the following trading hours, as investors and traders await the US FOMC Statement, scheduled at 18:00 GMT on Wednesday.

However, the 50– hour simple moving average could pressure the currency exchange rate past the support level, as mentioned above, within this session.


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