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USD/CAD breakout occurs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs26%26%-1.0%
Shorts74%74%0.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralSellSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇒

[ANNOUNCE]The US Dollar has declined by 210 pips or 1.45% in value against the Canadian Dollar since yesterday's trading session. A breakout occurred through the lower boundary of an ascending channel pattern on Wednesday morning. [/ANNOUNCE]

Given that a breakout had occurred, the USD/CAD exchange rate will likely continue to slide lower. Bearish traders might target the 1.4100 area within the following trading session.

However, a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 1.4263 could provide support for the currency exchange rate within today's session.

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25 Mar 2020

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