USD CAD Technical Analysis 22 May 2020
USD CAD Technical Analysis: The USD rose 0.38% against the CAD on Thursday and closed at 1.3900. Today in European session while USD CAD technical Analysis 22 May 2020 is preparing at at 6:45 GMT, the USD/CAD trading at 1.4000, which is 0.40% higher against CAD from yesterday’s close.
The pair is expected to find the support at 1.3900 and a fall through could take it to the next support level of 1.3860. The pair is expected to find its first resistance at 1.4020, and a rise through could take it to the next resistance level of 1.4065. For today the expected trading range is between 1.3860, Support and 1.4065 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.3900 Support 2: 1.3860, Support 3: 1.3825
Resistance Levels: Resistance 1: 1.3985, Resistance 2: 1.4020, Resistance 3: 1.4065
USD/CAD Buying Opportunity for Intraday Trading 22 May 2020
Buy near the support area 1.3900 and 1.3860 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
USD/CAD Selling Opportunity for Intraday Trading 22 May 2020
Sell near the resistance area 1.4020 and 1.4065 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.
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