USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD extends gains around 1.3580, US, Canada PMI data eyed

Pivot: 1.3575

Analysis:

While the price is above 1.3400, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3575
• Take Profit 1: 1.3670
• Take Profit 2: 1.3800

Alternative scenario:

If level 1.3400 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3400
• Take Profit 1: 1.3300
• Take Profit 2: 1.3200

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels: