USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD moves upward near 1.3600, focus on US CPI, Fed policy decision.

Pivot: 1.3592

Analysis:

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

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3592
• Take Profit 1: 1.3500
• Take Profit 2: 1.3400

Alternative scenario:

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

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3650
• Take Profit 1: 1.3820
• Take Profit 2: 1.3900

Comment:

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

Key levels: