USD CAD Technical Analysis 5 October 2020
USD CAD Technical Analysis: The USD rose 0.15% against the CAD on Friday and closed at 1.3306. Today in the Asian session, while USD CAD technical Analysis 5 October 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.3274, which is 0.24% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3265 and a fall through could take it to the next support level of 1.3245. The pair is expected to find its first resistance at 1.3330, and a rise through could take it to the next resistance level of 1.3355. Today’s expected trading range is between 1.3220, support and 1.3415 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.365
Support 2: 1.3245
Support 3: 1.3220
Important resistance levels:
Resistance 1: 1.3330
Resistance 2: 1.3355
Resistance 3: 1.3415
USD/CAD buying opportunity for intraday trading on October 5, 2020
Buy near the support zones 1.3265 and 1.3245 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 October 5, 2020
Sell near the resistance zones 1.3330 and 1.3355 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.