USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD looks to continue the losing streak, hovering near 1.3650.

Pivot: 1.3653

Analysis:

While the price is above 1.3650, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3653
• Take Profit 1: 1.3900
• Take Profit 2: 1.4000

Alternative scenario:

If level 1.3650 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3650
• Take Profit 1: 1.3570
• Take Profit 2: 1.3500

Comment:

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

Key levels: