USD CAD Technical Analysis 29 June 2021
USD CAD Technical Analysis: The USD rose 0.36% against the CAD on Monday and closed at 1.2337. Today in the Asian session, while USD CAD technical Analysis 29 June 2021 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2365, which is 0.23% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2325 and a fall through could take it to the next support level of 1.2290. The pair is expected to find its first resistance at 1.2400, and a rise through could take it to the next resistance level of 1.2475. Today’s expected trading range is between 1.2255, support and 1.2475 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2325
Support 2: 1.2290
Support 3: 1.2255
Important resistance levels:
Resistance 1: 1.2400
Resistance 2: 1.2475
Resistance 3: 1.2500
USD/CAD buying opportunity for intraday trading on June 29, 2021
Buy near the support zones 1.2325 and 1.2290 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 June 29, 2021
Sell near the resistance zones 1.2400 and 1.2475 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.