Current price: 1.3450
Key point: 1.3475
Our preferred direction: Sell positions below 1.3475 levels with 1.3375 as a first target and then 1.3320 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.3475 level, targeting the 1.3580 levels.
Technical commentary
The USD/CAD pair is positioned on the daily frame at the 200-day moving average and at the support levels of 1.3475-1.3450.
In case of breaking and consolidation below these levels, the pair will head down to the next support levels at 1.3375-1.3340.
