USD/CAD decline likely to continue - Technical Analysis - Dukascopy Bank
Mon, 10 May 2021 08:09:33 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
71%
71%
0.2%
Shorts
29%
29%
-0.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Buy
Buy
Stochastic(5;3;3)
Neutral
Buy
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇒
⇒
The US Dollar declined by 67 pips or 0.55% against the Canadian Dollar on Friday. The currency pair was pressured lower by the 50– hour simple moving average during Friday's trading session.
Everything being equal, the exchange rate is likely to continue to edge lower during the following trading session. The potential target for sellers could be near the weekly S1 at 1.2045.
On the other hand, the currency exchange rate could reverse from the current price level at 1.2118 and target the weekly pivot point at 1.2198 within this session.
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