NEWS: USD/CAD increased 0.4%. The recovery in US yields keeps lending support to the greenback. The pair broke above 1.2720.
Possible Scenarios:
If USD/CAD fails to breach through R1 of 1.27314, our Research Department expects the USD/CAD to undergo a short-term downward correction.
If USD/CAD manages to break above its R1 of 1.27314, our Research Department expects the USD/CAD to extend its gains to its R2 of 1.27575.
Support and Resistance Levels:
USD/CAD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.26094 |
1.26355 |
1.26616 |
1.26965 |
1.27314 |
1.27575 |
1.27836 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $13.65 |
(+/-) €11.22 |
(+/-) £10.01 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.21642
***GBP/USD = 1.36465
Calculations for exchange rate used as of 15:15 (GMT) 15/01/2021