Source: PaxForex Premium Analytics Portal, Technical Insight
The USD/CAD continues to drop below 1.2600 after the release of the Canadian jobs report.
USD/CAD,D1
Pivot: 1.2691
Analysis:
While the price is above 1.2420, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2691
- Take Profit 1: 1.2810
- Take Profit 2: 1.2950
Alternative scenario:
If the level 1.2420 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2420
- Take Profit 1: 1.2250
- Take Profit 2: 1.2130
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3050 | 1.2420 |
| 1.2950 | 1.2250 |
| 1.2810 | 1.2130 |
