USD CAD Technical Analysis 7 September 2020
USD CAD Technical Analysis: The USD declined 0.52% against the CAD on Friday and closed at 1.3058. Today in the Asian session, while USD CAD technical Analysis 7 September 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.3086, which is 0.21% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3040 and a fall through could take it to the next support level of 1.3020. The pair is expected to find its first resistance at 1.3120, and a rise through could take it to the next resistance level of 1.3140. Today’s expected trading range is between 1.2995, support and 1.3160 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3040
Support 2: 1.3020
Support 3: 1.2995
Important resistance levels:
Resistance 1: 1.3120
Resistance 2: 1.3140
Resistance 3: 1.3160
USD/CAD buying opportunity for intraday trading on September 7, 2020
Buy near the support zones 1.3040 and 1.3020 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 September 7, 2020
Sell near the resistance zones 1.3120 and 1.3140 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.