Source: PaxForex Premium Analytics Portal, Technical Insight
Canada: May CPI rose more than analysts had expected.
USD/CAD,D1
Pivot: 1.2270
Analysis:
Provided that the currency pair is traded above 1.2150, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2270
- Take Profit 1: 1.2400
- Take Profit 2: 1.2500
Alternative scenario:
In case of breakdown of the level 1.2150, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2150
- Take Profit 1: 1.1980
- Take Profit 2: 1.1830
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
Resistance | Support |
1.2550 | 1.2150 |
1.2500 | 1.1980 |
1.2400 | 1.1830 |