Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD depicts “silence after the storm” below a three-week low near 1.3400 amid firmer Oil price.
Pivot: 1.3366
Analysis:
While the price is below 1.3475, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3366
- Take Profit 1: 1.3300
- Take Profit 2: 1.3200
Alternative scenario:
If the level 1.3475 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3475
- Take Profit 1: 1.3650
- Take Profit 2: 1.3700
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3700 | 1.3300 |
| 1.3650 | 1.3200 |
| 1.3475 | 1.3100 |
