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USD CAD Technical Analysis 23 December 2020

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USD CAD Technical Analysis 23 December 2020

USD CAD Technical Analysis: The USD rose 0.39% against the CAD on Tuesday and closed at 1.2906. Today in the Asian session, while USD CAD technical Analysis 23 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2891, which is 0.11% lower against CAD from yesterday’s close.

The pair is expected to find the support at 1.2855 and a fall through could take it to the next support level of 1.2820. The pair is expected to find its first resistance at 1.2930, and a rise through could take it to the next resistance level of 1.2955. Today’s expected trading range is between 1.2765, support and 1.3000 resistance.

The expected trend for today is Bullish

Important support levels:

Support 1: 1.2855
Support 2: 1.2820
Support 3: 1.2765

Important resistance levels:

Resistance 1: 1.2930
Resistance 2: 1.2955
Resistance 3: 1.3000

USD/CAD buying opportunity for intraday trading on December 23, 2020

Buy near the support zones 1.2855 and 1.2820 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 23, 2020

Sell near the resistance zones 1.2930 and 1.2955 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.

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