Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD inches higher to near 1.3540, focus on Canadian CPI, Fed policy.
Pivot: 1.3540
Analysis:
While the price is above 1.3400, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3540
- Take Profit 1: 1.3750
- Take Profit 2: 1.3900
Alternative scenario:
If level 1.3400 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3400
- Take Profit 1: 1.3300
- Take Profit 2: 1.3200
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4000 | 1.3400 |
| 1.3900 | 1.3300 |
| 1.3750 | 1.3200 |
