Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD is holding near an intraday low, declining for a second straight day as the U.S. dollar shows weakness and WTI prices recover from the day's lows.
USD/CAD,D1
Pivot: 1.2980
Analysis:
While the price is above 1.2870, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2980
- Take Profit 1: 1.3050
- Take Profit 2: 1.3250
Alternative scenario:
If the level 1.2870 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2870
- Take Profit 1: 1.2790
- Take Profit 2: 1.2680
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3300 | 1.2870 |
| 1.3250 | 1.2790 |
| 1.3050 | 1.2680 |
