USD CAD Technical Analysis 9 December 2020
USD CAD Technical Analysis: The USD rose 0.15% against the CAD on Tuesday and closed at 1.2816. Today in the Asian session, while USD CAD technical Analysis 9 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2780, which is 0.27% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.2770 and a fall through could take it to the next support level of 1.2745. The pair is expected to find its first resistance at 1.2825, and a rise through could take it to the next resistance level of 1.2835. Today’s expected trading range is between 1.2700, support and 1.2865 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2770
Support 2: 1.2745
Support 3: 1.2700
Important resistance levels:
Resistance 1: 1.2825
Resistance 2: 1.2835
Resistance 3: 1.2865
USD/CAD buying opportunity for intraday trading on December 9, 2020
Buy near the support zones 1.2770 and 1.2745 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 December 9, 2020
Sell near the resistance zones 1.2825 and 1.2835 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.