USD CAD Technical Analysis 22 July 2020
USD CAD Technical Analysis: The USD declined 0.56% against the CAD on Tuesday and closed at 1.3457. Today in the Asian session, while USD CAD technical Analysis 22 July 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3560, which is 0.02% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3425 and a fall through could take it to the next support level of 1.3400. The pair is expected to find its first resistance at 1.3500, and a rise through could take it to the next resistance level of 1.3520. Today’s expected trading range is between 1.3350, support and 1.3540 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3425
Support 2: 1.3400
Support 3: 1.3350
Important resistance levels:
Resistance 1: 1.3500
Resistance 2: 1.3520
Resistance 3: 1.3540
USD/CAD buying opportunity for intraday trading on July 22, 2020
Buy near the support zones 1.3425 and 1.3400 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 22, 2020
Sell near the resistance zones 1.3500 and 1.3520 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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