USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD drops to over one-month low, holds just above mid-1.3600s amid weaker USD.

Pivot: 1.3663

Analysis:

While the price is above 1.3600, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3663
• Take Profit 1: 1.3900
• Take Profit 2: 1.4000

Alternative scenario:

If level 1.3600 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3600
• Take Profit 1: 1.3500
• Take Profit 2: 1.3400

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: