USD CAD Technical Analysis 20 January 2021
USD CAD Technical Analysis: The USD declined 0.16% against the CAD on Tuesday and closed at 1.2732. Today in the Asian session, while USD CAD technical Analysis 28 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2695, which is 0.28% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.2687 and a fall through could take it to the next support level of 1.2667. The pair is expected to find its first resistance at 1.2740, and a rise through could take it to the next resistance level of 1.2760. Today’s expected trading range is between 1.2625, support and 1.2800 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2687
Support 2: 1.2667
Support 3: 1.2625
Important resistance levels:
Resistance 1: 1.2740
Resistance 2: 1.2760
Resistance 3: 1.2800
USD/CAD buying opportunity for intraday trading on January 20, 2021
Buy near the support zones 1.2687 and 1.2667 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 January 20, 2021
Sell near the resistance zones 1.2740 and 1.2760 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.
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