Source: PaxForex Premium Analytics Portal, Technical Insight
NBF economists expect USD/CAD to fall to 1.20 next year.
USD/CAD,D1
Pivot: 1.2469
Analysis:
While the price is below 1.2700, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2469
- Take Profit 1: 1.2400
- Take Profit 2: 1.2300
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: 1.2830
- Take Profit 2: 1.2950
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2950 | 1.2400 |
| 1.2830 | 1.2300 |
| 1.2700 | 1.2130 |
