Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD will rise to 1.2950/1.3020 in case of a breakout of 1.2650 - SocGen.
USD/CAD,D1
Pivot: 1.2635
Analysis:
While the price is above 1.2400, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2635
- Take Profit 1: 1.2690
- Take Profit 2: 1.2830
Alternative scenario:
If the level 1.2400 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2400
- Take Profit 1: 1.2285
- Take Profit 2: 1.2180
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2950 | 1.2400 |
| 1.2830 | 1.2285 |
| 1.2690 | 1.2180 |
