Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD witnessed heavy selling on Friday and was under pressure from a combination of factors.
USD/CAD,D1
Pivot: 1.2859
Analysis:
While the price is above 1.2715, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2859
- Take Profit 1: 1.2900
- Take Profit 2: 1.3100
Alternative scenario:
If the level 1.2715 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2715
- Take Profit 1: 1.2470
- Take Profit 2: 1.2365
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3150 | 1.2715 |
| 1.3100 | 1.2470 |
| 1.2900 | 1.2365 |
