USD CAD Technical Analysis 1 July 2021
USD CAD Technical Analysis: The USD declined 0.03% against the CAD on Tuesday and closed at 1.2397. Today in the Asian session, while USD CAD technical Analysis 1 July 2021 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2410, which is 0.11% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2385 and a fall through could take it to the next support level of 1.2360. The pair is expected to find its first resistance at 1.2425, and a rise through could take it to the next resistance level of 1.2450. Today’s expected trading range is between 1.2335, support and 1.2480 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2385
Support 2: 1.2360
Support 3: 1.2335
Important resistance levels:
Resistance 1: 1.2425
Resistance 2: 1.2450
Resistance 3: 1.2485
USD/CAD buying opportunity for intraday trading on July 1, 2021
Buy near the support zones 1.2385 and 1.2360 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 July 1, 2021
Sell near the resistance zones 1.2425 and 1.2450 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.