Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD will continue its pullback towards the 200-DMA at 1.2553 - Credit Suisse.
USD/CAD,D1
Pivot: 1.2616
Analysis:
Provided that the currency pair is traded above 1.2550, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2616
- Take Profit 1: 1.2950
- Take Profit 2: 1.3130
Alternative scenario:
In case of breakdown of the level 1.2550, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2550
- Take Profit 1: 1.2420
- Take Profit 2: 1.2300
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 1.3280 | 1.2550 |
| 1.3130 | 1.2420 |
| 1.2950 | 1.2300 |
