USD CAD Technical Analysis 20 August 2020
USD CAD Technical Analysis: The USD rose 0.34% against the CAD on Wednesday and closed at 1.3212. Today in the Asian session, while USD CAD technical Analysis 20 August 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3215, which is 0.02% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3190 and a fall through could take it to the next support level of 1.3155. The pair is expected to find its first resistance at 1.3250, and a rise through could take it to the next resistance level of 1.3270. Today’s expected trading range is between 1.3135, support and 1.3285 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3190
Support 2: 1.3155
Support 3: 1.3135
Important resistance levels:
Resistance 1: 1.3250
Resistance 2: 1.3270
Resistance 3: 1.3285
USD/CAD buying opportunity for intraday trading on August 20, 2020
Buy near the support zones 1.3190 and 1.3155 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 20, 2020
Sell near the resistance zones 1.3250 and 1.3270 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.