USD CAD Technical Analysis 21 December 2020
USD CAD Technical Analysis: The USD rose 0.47% against the CAD on Friday and closed at 1.2781. Today in the Asian session, while USD CAD technical Analysis 21 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2845, which is 0.50% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2790 and a fall through could take it to the next support level of 1.2765. The pair is expected to find its first resistance at 1.2850, and a rise through could take it to the next resistance level of 1.2875. Today’s expected trading range is between 1.2730, support and 1.2900 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2790
Support 2: 1.2765
Support 3: 1.2730
Important resistance levels:
Resistance 1: 1.2850
Resistance 2: 1.2875
Resistance 3: 1.2900
USD/CAD buying opportunity for intraday trading on December 21, 2020
Buy near the support zones 1.2790 and 1.2765 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 21, 2020
Sell near the resistance zones 1.2850 and 1.2875 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.