USD CAD Technical Analysis 8 March 2021
USD CAD Technical Analysis: The USD declined 0.12% against the CAD on Friday and closed at 1.2650. 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 1.2668, which is 0.15% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.2625 and a fall through could take it to the next support level of 1.2615. The pair is expected to find its first resistance at 1.2710, and a rise through could take it to the next resistance level of 1.2740. Today’s expected trading range is between 1.2575, support and 1.2760 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2625
Support 2: 1.2615
Support 3: 1.2575
Important resistance levels:
Resistance 1: 1.2710
Resistance 2: 1.2740
Resistance 3: 1.2760
USD/CAD buying opportunity for intraday trading on March 8, 2021
Buy near the support zones 1.2625 and 1.2615 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 March 8, 2021
Sell near the resistance zones 1.2710 and 1.2740 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.