USD CAD Technical Analysis 20 October 2020
USD CAD Technical Analysis: The USD rose 0.02% against the CAD on Monday and closed at 1.3190. Today in the Asian session, while USD CAD technical Analysis 20 October 2020 is preparing at at 4:45 GMT, the USD/CAD trading at 1.3188, which is 0.01% lower against CAD from yesterday’s close.
The pair is expected to find the support at 1.3165 and a fall through could take it to the next support level of 1.3150. The pair is expected to find its first resistance at 1.3205, and a rise through could take it to the next resistance level of 1.3220. Today’s expected trading range is between 1.3120, support and 1.3255 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.3165
Support 2: 1.3150
Support 3: 1.3120
Important resistance levels:
Resistance 1: 1.3205
Resistance 2: 1.3220
Resistance 3: 1.3255
USD/CAD buying opportunity for intraday trading on October 20, 2020
Buy near the support zones 1.3165 and 1.3150 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 October 20, 2020
Sell near the resistance zones 1.3205 and 1.3220 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.