Source: PaxForex Premium Analytics Portal, Technical Insight
Canada: the annual CPI climbed to 6.7% in March compared to expectations of a 6.1% increase.
EUR/CAD,D1
Pivot: 1.3589
Analysis:
As long as price is below 1.3900 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3589
- Take Profit 1: 1.3500
- Take Profit 2: 1.3400
Alternative scenario:
If the level of 1.3900 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3900
- Take profit 1: 1.4160
- Take Profit 2: 1.4450
Comment:
RSI indicates downside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4450 | 1.3500 |
| 1.4160 | 1.3400 |
| 1.3900 | 1.3350 |
