USD/CAD bounces off support

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs56%58%-4.3%
Shorts44%42%5.4%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The US Dollar declined by 67 pips or 0.53% against the Canadian Dollar on Thursday. The currency pair breached the 50– and 200– hour simple moving averages during yesterday's trading session.

The exchange rate bounced off a support line formed by the lower boundary of an ascending channel pattern during the Asian session on Friday.

Most likely the USD/CAD pair could continue to edge higher throughout today's session.

However, a resistance level at 1.2627 could provide resistance for the currency exchange rate today.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.