USD CAD Technical Analysis 25 August 2020
USD CAD Technical Analysis: The USD rose 0.32% against the CAD on Monday and closed at 1.3216. Today in the Asian session, while USD CAD technical Analysis 25 August 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3222, which is 0.03% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3155 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 1.3235, and a rise through could take it to the next resistance level of 1.3260. Today’s expected trading range is between 1.3100, support and 1.3260 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.3155
Support 2: 1.3135
Support 3: 1.3100
Important resistance levels:
Resistance 1: 1.3235
Resistance 2: 1.3260
Resistance 3: 1.3300
USD/CAD buying opportunity for intraday trading on August 25, 2020
Buy near the support zones 1.3155 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 25, 2020
Sell near the resistance zones 1.3235 and 1.3260 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.