USD CAD Technical Analysis 17 August 2020
USD CAD Technical Analysis: The USD rose 0.34% against the CAD on Friday and closed at 1.3265. Today in the Asian session, while USD CAD technical Analysis 17 August 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3230, which is 0.27% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3225 and a fall through could take it to the next support level of 1.3192. The pair is expected to find its first resistance at 1.3265, and a rise through could take it to the next resistance level of 1.3285. Today’s expected trading range is between 1.3160, support and 1.3310 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3225
Support 2: 1.3192
Support 3: 1.3160
Important resistance levels:
Resistance 1: 1.3265
Resistance 2: 1.3285
Resistance 3: 1.3310
USD/CAD buying opportunity for intraday trading on August 17, 2020
Buy near the support zones 1.3225 and 1.3192 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 August 17, 2020
Sell near the resistance zones 1.3265 and 1.3285 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.