Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD rebounds from 1.3480 support amid downbeat Oil price, focus on US debt ceiling talks.
Pivot: 1.3506
Analysis:
While the price is below 1.3475, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3506
- Take Profit 1: 1.3670
- Take Profit 2: 1.3800
Alternative scenario:
If the level 1.3475 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3475
- Take Profit 1: 1.3300
- Take Profit 2: 1.3200
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3850 | 1.3475 |
| 1.3800 | 1.3300 |
| 1.3670 | 1.3200 |
