Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD moves above 1.3800 as traders expect BoC to deliver a 50 bps rate cut.
Pivot: 1.3805
Analysis:
While the price is above 1.3600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3805
- 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:
| Resistance | Support |
| 1.4100 | 1.3600 |
| 1.4000 | 1.3500 |
| 1.3800 | 1.3400 |
