USD CAD Technical Analysis 28 October 2020
USD CAD Technical Analysis: The USD declined 0.14% against the CAD on Tuesday and closed at 1.3184. Today in the Asian session, while USD CAD technical Analysis 28 October 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.3200, which is 0.12% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3145 and a fall through could take it to the next support level of 1.3110. The pair is expected to find its first resistance at 1.3220, and a rise through could take it to the next resistance level of 1.3250. Today’s expected trading range is between 1.3080, support and 1.3260 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3145
Support 2: 1.3110
Support 3: 1.3080
Important resistance levels:
Resistance 1: 1.3220
Resistance 2: 1.3250
Resistance 3: 1.3260
USD/CAD buying opportunity for intraday trading on October 28, 2020
Buy near the support zones 1.3145 and 1.3110 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 28, 2020
Sell near the resistance zones 1.3220 and 1.3250 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.