USD CAD Technical Analysis 11 December 2020
USD CAD Technical Analysis: The USD declined 0.61% against the CAD on Thursday and closed at 1.2738. Today in the Asian session, while USD CAD technical Analysis 11 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2761, which is 0.17% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2710 and a fall through could take it to the next support level of 1.2685. The pair is expected to find its first resistance at 1.2770, and a rise through could take it to the next resistance level of 1.2810. Today’s expected trading range is between 1.2600, support and 1.2830 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2710
Support 2: 1.2685
Support 3: 1.2600
Important resistance levels:
Resistance 1: 1.2770
Resistance 2: 1.2810
Resistance 3: 1.2830
USD/CAD buying opportunity for intraday trading on December 11, 2020
Buy near the support zones 1.2710 and 1.2685 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 11, 2020
Sell near the resistance zones 1.2770 and 1.2810 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.