USD CAD Technical Analysis 16 July 2020
USD CAD Technical Analysis: The USD rose 0.05% against the CAD on Wednesday and closed at 1.3615. Today in the Asian session, while USD CAD technical Analysis 16 July 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3600, which is 0.11% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3500 and a fall through could take it to the next support level of 1.3470. The pair is expected to find its first resistance at 1.3540, and a rise through could take it to the next resistance level of 1.3580. Today’s expected trading range is between 1.3540, support and 1.3670 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3500
Support 2: 1.3470
Support 3: 1.3430
Important resistance levels:
Resistance 1: 1.3540
Resistance 2: 1.3580
Resistance 3: 1.3630
USD/CAD buying opportunity for intraday trading on July 16, 2020
Buy near the support zones 1.3500 and 1.3470 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
USD/CAD selling opportunity for intraday trading on July 16, 2020
Sell near the resistance zones 1.3540 and 1.3580 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
EUR/USD Technical Analysis 16 July 2020
GBP/USD Technical Analysis 16 July 2020
USD/JPY Technical Analysis 16 July 2020