USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD gathers strength for a break above 1.3550 despite subdued USD Index

Pivot: 1.3556

Analysis:

While the price is below 1.3635, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3556
• Take Profit 1: 1.3300
• Take Profit 2: 1.3200

Alternative scenario:

If the level 1.3635 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3635
• Take Profit 1: 1.3800
• Take Profit 2: 1.3900

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels: