Source: PaxForex Premium Analytics Portal, Technical Insight

The USD/CAD pair breached the 1.27 mark and headed for a weekly high of 1.2708.

USD/CAD,D1

Pivot: 1.2761

Analysis:

While the price is above 1.2420, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2761
• Take Profit 1: 1.2810
• Take Profit 2: 1.2950

Alternative scenario:

If the level 1.2420 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2420
• Take Profit 1: 1.2250
• Take Profit 2: 1.2130

Comment:

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

Key levels: