Source: PaxForex Premium Analytics Portal, Technical Insight
The USD/CAD broke-out 1.2560 and retreated to 1.2519, marking the low from Friday.
USD/CAD,D1
Pivot: 1.2525
Analysis:
Provided that the currency pair is traded above 1.2420, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2525
- Take Profit 1: 1.2670
- Take Profit 2: 1.2810
Alternative scenario:
In case of breakdown of the level 1.2420, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2420
- Take Profit 1: 1.2300
- Take Profit 2: 1.2180
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 1.2950 | 1.2420 |
| 1.2810 | 1.2300 |
| 1.2670 | 1.2180 |
