USD CAD Technical Analysis 29 December 2020
USD CAD Technical Analysis: The USD declined 0.02% against the CAD on Monday and closed at 1.2848. Today in the Asian session, while USD CAD technical Analysis 28 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2813, which is 0.28% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.2807 and a fall through could take it to the next support level of 1.2770. The pair is expected to find its first resistance at 1.2845, and a rise through could take it to the next resistance level of 1.2875. Today’s expected trading range is between 1.2775, support and 1.2890 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2807
Support 2: 1.2770
Support 3: 1.2750
Important resistance levels:
Resistance 1: 1.2845
Resistance 2: 1.2875
Resistance 3: 1.2930
USD/CAD buying opportunity for intraday trading on December 29, 2020
Buy near the support zones 1.2807 and 1.2770 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 29, 2020
Sell near the resistance zones 1.2845 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.