USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD falls further to 1.3580 on better-than-projected Canadian Retail Sales.

Pivot: 1.3511

Analysis:

While the price is above 1.3600, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3511
• Take Profit 1: 1.3600
• Take Profit 2: 1.3700

Alternative scenario:

If level 1.3500 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3500
• Take Profit 1: 1.3400
• Take Profit 2: 1.3300

Comment:

RSI shows the possibility of an uptrend in the medium term.

Key levels: