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USD CAD Technical Analysis May 8, 2023

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USD CAD Technical Analysis May 8, 2023

The USD declined 1.19% against the CAD on Friday and closed at 1.3374. Today in the European session, while USD CAD Technical Analysis May 8, 2023, is prepared at 5:00 GMT, the USD/CAD is trading at 1.3325, which is 0.37% lower than CAD from yesterday’s close.

The pair is expected to find support at 1.3315 and a fall-through could take it to the next support level of 1.3300 The pair is expected to find its first resistance at 1.3385, and a rise-through could take it to the next resistance level of 1.3485. Today’s expected trading range is between 1.3270 support and 1.3500 resistance.

The expected trend for today is Bearish

Important support levels:

Support 1: 1.3315
Support 2: 1.3300
Support 3: 1.3270

Important resistance levels:

Resistance 1: 1.3385
Resistance 2: 1.3485
Resistance 3: 1.3500

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