Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD remains pressured around the lowest levels in a fortnight amid the sluggish European morning on Monday. That said, the Loonie pair seesaws near 1.3030 during the four-day downtrend amid the bearish bias of the options market traders.
USD/CAD,D1
Pivot: 1.3022
Analysis:
While the price is above 1.3000, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3022
- Take Profit 1: 1.3200
- Take Profit 2: 1.3300
Alternative scenario:
If the level 1.3000 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3000
- Take Profit 1: 1.2900
- Take Profit 2: 1.2800
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3400 | 1.3000 |
| 1.3300 | 1.2900 |
| 1.3200 | 1.2800 |
