Source: PaxForex Premium Analytics Portal, Technical Insight
The USD/CAD pair will retest the October low just below 1.23 - Scotiabank.
USD/CAD,D1
Pivot: 1.2562
Analysis:
While the price is below 1.2625, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2562
- Take Profit 1: 1.2485
- Take Profit 2: 1.2360
Alternative scenario:
If the level 1.2625 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2625
- Take Profit 1: 1.2810
- Take Profit 2: 1.3030
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3100 | 1.2625 |
| 1.3030 | 1.2485 |
| 1.2810 | 1.2360 |
