Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD holds position near 1.4100, four-year highs, Oil prices eyed.
Pivot: 1.4083
Analysis:
While the price is above 1.3800, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4083
- Take Profit 1: 1.4100
- Take Profit 2: 1.4200
Alternative scenario:
If level 1.3800 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3800
- Take Profit 1: 1.3700
- Take Profit 2: 1.3600
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4300 | 1.3800 |
| 1.4200 | 1.3700 |
| 1.4100 | 1.3600 |
