USD CAD Technical Analysis 20 July 2020
USD CAD Technical Analysis: The USD rose 0.06% against the CAD on Friday and closed at 1.3582. Today in the Asian session, while USD CAD technical Analysis 20 July 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3583, which is 0.01% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3565 and a fall through could take it to the next support level of 1.3555. The pair is expected to find its first resistance at 1.3600, and a rise through could take it to the next resistance level of 1.3620. Today’s expected trading range is between 1.3500, support and 1.3630 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3565
Support 2: 1.3555
Support 3: 1.3500
Important resistance levels:
Resistance 1: 1.3600
Resistance 2: 1.3620
Resistance 3: 1.3645
USD/CAD buying opportunity for intraday trading on July 20, 2020
Buy near the support zones 1.3550 and 1.3520 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 July 20, 2020
Sell near the resistance zones 1.3600 and 1.3620 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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