USD CAD Technical Analysis 16 April 2020

USD CAD Technical Analysis: The USD rose 3.24% against the CAD on Wednesday and closed at 1.4114. Today in Asian session while USD CAD technical Analysis 16 April 2020 is preparing at at 6:45 GMT, the USD/CAD trading at 1.4141, which is 0.01% lower against CAD from yesterday’s close.

The pair is expected to find the support at 1.3949 nd a fall through could take it to the next support level of 1.3785. The pair is expected to find its first resistance at 1.4200, and a rise through could take it to the next resistance level of 1.4300. For today the expected trading range is between 1.4040, Support and 1.4200 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 1.3949, Support 2: 1.3785, Support 3: 1.3693
Resistance Levels: Resistance 1: 1.4200, Resistance 2: 1.4300, Resistance 3: 1.4461

USD/CAD Buying Opportunity for Intraday Trading 16 April 2020

Buy near the support area 1.3949 and 1.3785 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.

USD/CAD Selling Opportunity for Intraday Trading 16 April 2020

Sell near the resistance area 1.4200 and 1.4300 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.

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