USD CAD Technical Analysis 29 April 2021
USD CAD Technical Analysis: The USD declined 0.69% against the CAD on Wednesday and closed at 1.2312. 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 1.2308, which is 0.03% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.2275 and a fall through could take it to the next support level of 1.2235. The pair is expected to find its first resistance at 1.2350, and a rise through could take it to the next resistance level of 1.2385. Today’s expected trading range is between 1.2235, support and 1.2417 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2275
Support 2: 1.2235
Support 3: 1.2200
Important resistance levels:
Resistance 1: 1.2350
Resistance 2: 1.2385
Resistance 3: 1.2417
USD/CAD buying opportunity for intraday trading on April 29, 2021
Buy near the support zones 1.2275 and 1.2235 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 29, 2021
Sell near the resistance zones 1.2350 and 1.2385 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.