Source: PaxForex Premium Analytics Portal, Technical Insight
The USD/CAD fell to a daily low of 1.2280 early in the American session on Thursday, but it managed to change direction.
USD/CAD,D1
Pivot: 1.2318
Analysis:
Provided that the currency pair is traded above 1.2180, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2318
- Take Profit 1: 1.2480
- Take Profit 2: 1.2630
Alternative scenario:
In case of breakdown of the level 1.2180, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2180
- Take Profit 1: 1.2020
- Take Profit 2: 1.1900
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 1.2740 | 1.2180 |
| 1.2630 | 1.2020 |
| 1.2480 | 1.1900 |
