Source: PaxForex Premium Analytics Portal, Technical Insight
BoC’s Tiff Macklem says unemployment needs to rise in order to slow inflation.
USD/CAD,D1
Pivot: 1.3262
Analysis:
While the price is below 1.3420, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3262
- Take Profit 1: 1.3200
- Take Profit 2: 1.3000
Alternative scenario:
If the level 1.3420 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3420
- Take Profit 1: 1.3570
- Take Profit 2: 1.3660
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3660 | 1.3200 |
| 1.3570 | 1.3000 |
| 1.3420 | 1.2900 |
