Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD: All eyes on the US Dollar as price corrects in bear trend.
Pivot: 1.3346
Analysis:
While the price is below 1.3525, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3346
- Take Profit 1: 1.3300
- Take Profit 2: 1.3200
Alternative scenario:
If the level 1.3525 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3525
- Take Profit 1: 1.3700
- Take Profit 2: 1.3800
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3800 | 1.3300 |
| 1.3700 | 1.3200 |
| 1.3525 | 1.3100 |
