USD CAD Technical Analysis May 16, 2022
The USD declined 1.04% against the CAD on Friday and closed at 1.2907. Today in the Asian session, while USD CAD Technical Analysis May 16, 2022, is preparing at 5:15 GMT, the USD/CAD is trading at 1.2966, which is 0.45% higher than CAD from yesterday’s close.
The pair is expected to find the support at 1.2900 and a fall through could take it to the next support level of 1.2865. The pair is expected to find its first resistance at 1.2980, and a rise through could take it to the next resistance level of 1.3000. Today’s expected trading range is between 1.2815 support and 1.3020 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2900
Support 2: 1.2865
Support 3: 1.2815
Important resistance levels:
Resistance 1: 1.2980
Resistance 2: 1.3000
Resistance 3: 1.3020
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