USD CAD Technical Analysis 24 December 2020
USD CAD Technical Analysis: The USD rose 0.48% against the CAD on Wednesday and closed at 1.2844. Today in the Asian session, while USD CAD technical Analysis 24 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2851, which is 0.05% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2820 and a fall through could take it to the next support level of 1.2800. 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 1.2775, support and 1.2930 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2820
Support 2: 1.2800
Support 3: 1.2775
Important resistance levels:
Resistance 1: 1.2865
Resistance 2: 1.2895
Resistance 3: 1.2930
USD/CAD buying opportunity for intraday trading on December 24, 2020
Buy near the support zones 1.2820 and 1.2800 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 24, 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.