Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD pair will move down in the coming weeks - Scotiabank.
USD/CAD,D1
Pivot: 1.2613
Analysis:
While the price is above 1.2575 , follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2613
- Take Profit 1: 1.2850
- Take Profit 2: 1.2965
Alternative scenario:
If the level 1.2575 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2575
- Take Profit 1: 1.2450
- Take Profit 2: 1.2365
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3100 | 1.2575 |
| 1.2965 | 1.2450 |
| 1.2850 | 1.2365 |
