USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD trades with modest losses around mid-1.3500s amid rebounding Oil prices.

Pivot: 1.3563

Analysis:

While the price is above 1.3400, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3563
• Take Profit 1: 1.3600
• Take Profit 2: 1.3700

Alternative scenario:

If level 1.3400 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3400
• Take Profit 1: 1.3250
• Take Profit 2: 1.3150

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: