USD CAD Technical Analysis 22 October 2020
USD CAD Technical Analysis: The USD rose 0.14% against the CAD on Wednesday and closed at 1.3144. Today in the Asian session, while USD CAD technical Analysis 22 October 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.3155, which is 0.07% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3100 and a fall through could take it to the next support level of 1.3080. The pair is expected to find its first resistance at 1.3170, and a rise through could take it to the next resistance level of 1.3200. Today’s expected trading range is between 1.3050, support and 1.3255 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3100
Support 2: 1.3080
Support 3: 1.3050
Important resistance levels:
Resistance 1: 1.3170
Resistance 2: 1.3200
Resistance 3: 1.3255
USD/CAD buying opportunity for intraday trading on October 22, 2020
Buy near the support zones 1.3100 and 1.3080 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 October 22, 2020
Sell near the resistance zones 1.3170 and 1.3200 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.