USD CAD Technical Analysis 21 August 2020
USD CAD Technical Analysis: The USD declined 0.21% against the CAD on Thursday and closed at 1.3185. Today in the Asian session, while USD CAD technical Analysis 21 August 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3197, which is 0.09% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3160 and a fall through could take it to the next support level of 1.3135. The pair is expected to find its first resistance at 1.3200, and a rise through could take it to the next resistance level of 1.3235. Today’s expected trading range is between 1.3080, support and 1.3270 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3160
Support 2: 1.3135
Support 3: 1.3080
Important resistance levels:
Resistance 1: 1.3200
Resistance 2: 1.3235
Resistance 3: 1.3270
USD/CAD buying opportunity for intraday trading on August 21, 2020
Buy near the support zones 1.3160 and 1.3135 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 21, 2020
Sell near the resistance zones 1.3200 and 1.3265 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.