USD CAD Technical Analysis 4 September 2020
USD CAD Technical Analysis: The USD rose 0.63% against the CAD on Thursday and closed at 1.3126. Today in the Asian session, while USD CAD technical Analysis 4 September 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3085, which is 0.31% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3055 and a fall through could take it to the next support level of 1.3035. The pair is expected to find its first resistance at 1.3135, and a rise through could take it to the next resistance level of 1.3180. Today’s expected trading range is between 1.3000, support and 1.3240 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3055
Support 2: 1.3035
Support 3: 1.3000
Important resistance levels:
Resistance 1: 1.3135
Resistance 2: 1.3180
Resistance 3: 1.3240
USD/CAD buying opportunity for intraday trading on September 4, 2020
Buy near the support zones 1.3055 and 1.3035 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 September 4, 2020
Sell near the resistance zones 1.3135 and 1.3180 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.