USD CAD Technical Analysis 28 July 2020
USD CAD Technical Analysis: The USD declined 0.51% against the CAD on Monday and closed at 1.3355. Today in the Asian session, while USD CAD technical Analysis 28 July 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3367, which is 0.09% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3330 and a fall through could take it to the next support level of 1.3300. The pair is expected to find its first resistance at 1.3380, and a rise through could take it to the next resistance level of 1.3400. Today’s expected trading range is between 1.3225, support and 1.3440 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3330
Support 2: 1.3300
Support 3: 1.3250
Important resistance levels:
Resistance 1: 1.3380
Resistance 2: 1.3400
Resistance 3: 1.3440
USD/CAD buying opportunity for intraday trading on July 28, 2020
Buy near the support zones 1.3330 and 1.3300 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 28, 2020
Sell near the resistance zones 1.3380 and 1.3400 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.