USD/CAD decline likely to continue - Technical Analysis - Dukascopy Bank
Mon, 17 May 2021 08:20:40 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
74%
73%
0.8%
Shorts
26%
27%
-2.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇒
The US Dollar declined by 90 pips or 0.74% against the Canadian Dollar on Friday. The currency pair breached the 50– hour simple moving average during Friday's trading session.
As for the near future, the exchange rate could continue to trend bearish. Sellers are likely to target the weekly support level at 1.2030 during the following trading session.
However, a support level at 1.2067 could provide support for the USD/CAD currency exchange rate within this session.
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