Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD steadies at multi-day top near 1.3600 on softer Oil price, US Dollar’s retreat ahead of US/Canada data.
Pivot: 1.3587
Analysis:
While the price is above 1.3300, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3587
- Take Profit 1: 1.3670
- Take Profit 2: 1.3800
Alternative scenario:
If level 1.3300 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3300
- Take Profit 1: 1.3200
- Take Profit 2: 1.3100
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3900 | 1.3300 |
| 1.3800 | 1.3200 |
| 1.3670 | 1.3100 |
