Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD appreciates to near 1.3700 as the Fed delays the expected timing of the rate cut.
Pivot: 1.3690
Analysis:
While the price is above 1.3600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3690
- Take Profit 1: 1.3800
- Take Profit 2: 1.3900
Alternative scenario:
If level 1.3600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3600
- Take Profit 1: 1.3500
- Take Profit 2: 1.3400
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4000 | 1.3600 |
| 1.3900 | 1.3500 |
| 1.3800 | 1.3400 |
