USD/CAD bears could prevail - Technical Analysis - Dukascopy Bank
Fri, 30 Apr 2021 08:12:27 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
71%
0.1%
Shorts
29%
29%
-0.1%
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 traded sideways against the Canadian Dollar on Thursday. The USD/CAD currency pair made about 35 pips or 0.28% move during Thursday's trading session.
As for the near future, the exchange rate is likely to maintain the narrow descending channel pattern. The possible target for the pair will be near the weekly support line at 1.2200.
However, the currency exchange rate could reverse from the current price level at 1.2274 and target the weekly resistance level at 1.2405.
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