USD/CAD | US Dollar to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CAD consolidates near a three-week high, around mid-1.3200s.

Pivot: 1.3230

Analysis:

While the price is below 1.3475, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3230
• Take Profit 1: 1.3075
• Take Profit 2: 1.2900

Alternative scenario:

If level 1.3475 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3475
• Take Profit 1: 1.3670
• Take Profit 2: 1.3800

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels: