USD CAD Technical Analysis 29 January 2021
USD CAD Technical Analysis: The USD rose 0.22% against the CAD on Thursday and closed at 1.2828. 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 1.2847, which is 0.14% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2790 and a fall through could take it to the next support level of 1.2780. The pair is expected to find its first resistance at 1.2875, and a rise through could take it to the next resistance level of 1.2915. Today’s expected trading range is between 1.2735, support and 1.2950 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2790
Support 2: 1.2780
Support 3: 1.2735
Important resistance levels:
Resistance 1: 1.2875
Resistance 2: 1.2915
Resistance 3: 1.2950
USD/CAD buying opportunity for intraday trading on January 29, 2021
Buy near the support zones 1.2790 and 1.2780 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 January 29, 2021
Sell near the resistance zones 1.2875 and 1.2915 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.