USD CAD Technical Analysis 18 December 2020
USD CAD Technical Analysis: The USD declined 0.13% against the CAD on Thursday and closed at 1.2721. Today in the Asian session, while USD CAD technical Analysis 18 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2743, which is 0.18% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2720 and a fall through could take it to the next support level of 1.2690. The pair is expected to find its first resistance at 1.2755, and a rise through could take it to the next resistance level of 1.2790. Today’s expected trading range is between 1.2650, support and 1.2790 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2720
Support 2: 1.2690
Support 3: 1.2650
Important resistance levels:
Resistance 1: 1.2755
Resistance 2: 1.2790
Resistance 3: 1.2800
USD/CAD buying opportunity for intraday trading on December 18, 2020
Buy near the support zones 1.2720 and 1.2690 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 18, 2020
Sell near the resistance zones 1.2755 and 1.2790 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.