Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD remains on the front foot around 1.3285 during Monday’s early European morning, up for the third consecutive day near the 22-month high flashed the previous day.
USD/CAD,D1
Pivot: 1.3259
Analysis:
While the price is above 1.3000, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3259
- Take Profit 1: 1.3300
- Take Profit 2: 1.3400
Alternative scenario:
If the level 1.3000 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3000
- Take Profit 1: 1.2900
- Take Profit 2: 1.2800
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3500 | 1.3000 |
| 1.3400 | 1.2900 |
| 1.3300 | 1.2800 |
