Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD snaps a two-day losing streak on lower Crude prices and improves to near 1.3430.
Pivot: 1.3435
Analysis:
While the price is below 1.3600, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3435
- Take Profit 1: 1.3200
- Take Profit 2: 1.3100
Alternative scenario:
If level 1.3600 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3600
- Take Profit 1: 1.3750
- Take Profit 2: 1.3900
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3900 | 1.3200 |
| 1.3750 | 1.3100 |
| 1.3600 | 1.3000 |
