Source: PaxForex Premium Analytics Portal, Technical Insight
The USD/CAD pair is down to six-week lows below 1.2600.
USD/CAD,D1
Pivot: 1.2574
Analysis:
While the price is below 1.2700, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2574
- Take Profit 1: 1.2520
- Take Profit 2: 1.2400
Alternative scenario:
If the level 1.2700 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2700
- Take Profit 1: 1.2850
- Take Profit 2: 1.2915
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2915 | 1.2520 |
| 1.2850 | 1.2400 |
| 1.2700 | 1.2350 |
