Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD: Renews monthly low, further decline is capped at 1.2680.
USD/CAD,D1
Pivot: 1.2695
Analysis:
While the price is below 1.2885, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2695
- Take Profit 1: 1.2630
- Take Profit 2: 1.2470
Alternative scenario:
If the level 1.2885 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2885
- Take Profit 1: 1.3000
- Take Profit 2: 1.3100
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3100 | 1.2630 |
| 1.3000 | 1.2470 |
| 1.2885 | 1.2365 |
