USD CAD Technical Analysis September 21, 2018
The USD declined 0.20% against the CAD on Thursday and closed at 1.2900. Today in European session while USD CAD technical analysis September 21, 2018 is preparing at at 10:45 GMT, the USD/CAD trading at 1.2907, which is 0.05% lower against CAD from yesterday’s close.
In US session, data showed that the After the last meeting raised interest rates by 25 basis points, the Bank of Canada kept the benchmark interest rate unchanged at 1.5% on September 5, 2018, in line with market expectations. Policymakers have reinforced their vision of requiring higher interest rates to achieve the 2% inflation target. The bank interest rate is 1.75% and the deposit interest rate is 1.25%.
When the US market opens, the Canidian economic data will release such us CPI m/m, Core Retail Sales m/m, Common CPI y/y, Median CPI y/y, Retail Sales m/m, Trimmed CPI y/y, Core CPI m/m
USD CAD technical analysis September 21, 2018
The pair is expected to find the support at 1.2880 and a fall through could take it to the next support level of 1.2857. The pair is expected to find its first resistance at 1.2927, and a rise through could take it to the next resistance level of 1.2952. For today the expected trading range is between 1.2900, Support and 1.3136 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1.2880 Support 2: 1.2857 Support 3: 1.2830
Resistance Levels: Resistance 1: 1.2927 Resistance 2: 1.2952 Resistance 3: 1.2974
Previous day`s high: 1.2931
Previous day`s low: 1.2883
USD/CAD Buying Opportunity for Intraday Trading September 21, 2018
Buy near the support area 1.2880 and 1.2857 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.
USD/CAD Selling Opportunity for Intraday Trading September 21, 2018
Sell near the resistance area 1.2927 and 1.2952 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.
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