Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of Canada Governor Tiff Macklem said late Wednesday that there is a limit to how far the Canadian central bank can diverge on rates from the Fed, but they’re not close to that limit.
EUR/CAD,D1
Pivot: 1.4845
Analysis:
As long as the price is above 1.4700 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4845
- Take Profit 1: 1.4900
- Take Profit 2: 1.5000
Alternative scenario:
If the level of 1.4700 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4700
- Take profit 1: 1.4600
- Take Profit 2: 1.4500
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5100 | 1.4700 |
| 1.5000 | 1.4600 |
| 1.4900 | 1.4500 |
