USD CAD Technical Analysis 10 August 2020
USD CAD Technical Analysis: The USD rose 0.75% against the CAD on Friday and closed at 1.3385. Today in the Asian session, while USD CAD technical Analysis 10 August 2020 is preparing at at 5:15 GMT, the USD/CAD trading at 1.3388, which is 0.03% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3350 and a fall through could take it to the next support level of 1.3315. The pair is expected to find its first resistance at 1.3420, and a rise through could take it to the next resistance level of 1.3450. Today’s expected trading range is between 1.3240, support and 1.3500 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3350
Support 2: 1.3315
Support 3: 1.3240
Important resistance levels:
Resistance 1: 1.3420
Resistance 2: 1.3450
Resistance 3: 1.3500
USD/CAD buying opportunity for intraday trading on August 10, 2020
Buy near the support zones 1.3350 and 1.3315 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 August 10, 2020
Sell near the resistance zones 1.3420 and 1.3450 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.