USD CAD Technical Analysis 27 April 2021
USD CAD Technical Analysis: The USD declined 0.68% against the CAD on Monday and closed at 1.2393. Today in the Asian session, while USD CAD technical Analysis 28 December 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.2403, which is 0.08% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2385 and a fall through could take it to the next support level of 1.2365. The pair is expected to find its first resistance at 1.2460, and a rise through could take it to the next resistance level of 1.2490. Today’s expected trading range is between 1.2300, support and 1.2490 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2385
Support 2: 1.2365
Support 3: 1.2300
Important resistance levels:
Resistance 1: 1.2460
Resistance 2: 1.2490
Resistance 3: 1.2500
USD/CAD buying opportunity for intraday trading on April 27, 2021
Buy near the support zones 1.2385 and 1.2365 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 April 27, 2021
Sell near the resistance zones 1.2460 and 1.2490 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.