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: