Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD kick-starts BoC week on the dicey floor above 1.3400 amid sturdy Oil price, US Dollar.
Pivot: 1.3438
Analysis:
hile the price is above 1.3360, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3438
- Take Profit 1: 1.3670
- Take Profit 2: 1.3800
Alternative scenario:
If level 1.3360 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3360
- Take Profit 1: 1.3300
- Take Profit 2: 1.3200
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
Resistance | Support |
1.3850 | 1.3360 |
1.3800 | 1.3300 |
1.3670 | 1.3200 |