USD/CAD two scenarios likely - Technical Analysis - Dukascopy Bank
Thu, 29 Apr 2021 07:19:50 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
73%
-2.8%
Shorts
29%
27%
6.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Buy
Buy
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇒
The US Dollar edged lower by 113 pips or 0.91% against the Canadian Dollar on Wednesday. The 50– hour simple moving average pressured the currency pair lower during yesterday's trading session.
Everything being equal, the exchange rate could continue to trend bearish during the following trading session. Bearish traders might target the weekly support level at 1.2200.
However, the currency exchange rate could reverse from the 1.2284 level within this session.
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