USD CAD Technical Analysis 2 September 2020
USD CAD Technical Analysis: The USD rose 0.14% against the CAD on Tuesday and closed at 1.3064. Today in the Asian session, while USD CAD technical Analysis 2 September 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3070, which is 0.04% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3050 and a fall through could take it to the next support level of 1.3000. The pair is expected to find its first resistance at 1.3100, and a rise through could take it to the next resistance level of 1.3125. Today’s expected trading range is between 1.2950, support and 1.3200 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3050
Support 2: 1.3000
Support 3: 1.2950
Important resistance levels:
Resistance 1: 1.3100
Resistance 2: 1.3125
Resistance 3: 1.3200
USD/CAD buying opportunity for intraday trading on September 2, 2020
Buy near the support zones 1.3050 and 1.3000 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 September 2, 2020
Sell near the resistance zones 1.3100 and 1.3125 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.