USDCAD August, 27 2020

Technical Analysis
Thursday, August 27, 2020 - 17:00
Point Trader Group
USDCAD August, 27 2020

Overview:

The above chart shows that the pair is trading above a strong support level around 1.3134, which enhances the bullish chances during today's trading.

Expected:

Continuing trading above the aforementioned support level, may push the pair to rise to 1.3200

Alternative Scenario:

On the other hand, we think that in the event of a break of 1.3134 to the downside, this pair may initially decline to 1.3100.

 

Resistance1.32001.32301.3260
Support1.31341.31001.3075

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