USD CAD Technical Analysis 7 January 2021
USD CAD Technical Analysis: The USD rose 0.05% against the CAD on Wednesday and closed at 1.2673. 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 1.2708, which is 0.28% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2665 and a fall through could take it to the next support level of 1.2630. The pair is expected to find its first resistance at 1.2765, and a rise through could take it to the next resistance level of 1.2790. Today’s expected trading range is between 1.2630, support and 1.2765 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2665
Support 2: 1.2630
Support 3: 1.2600
Important resistance levels:
Resistance 1: 1.2665
Resistance 2: 1.2790
Resistance 3: 1.2830
USD/CAD buying opportunity for intraday trading on January 7, 2021
Buy near the support zones 1.2665 and 1.2630 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 7, 2021
Sell near the resistance zones 1.2765 and 1.2790 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.