Consolidation in USD/CAD Can Extend

Technical Reports

Trading is neutral, as the pair stays above 1.3164 and consolidation from that point can prolong. Pivot points are at: (S1) 1.3182; (P) 1.3260; (R1) 1.3311.

Upside should be bounded by support 1.3387. Corrective growth from 1.2460 has completed at 1.3793. Trading below 1.3164 will align at 1p.2968.

Price moves from a medium term top 1.4689 is a correction. The first leg has completed at 1.2460. Increase from 1.2460 is seen as the second leg, which has completed at 1.3793. Fall of the pair can continue through support 1.2460 to 50% retracement of 0.9406 to 1.4869 at 1.2048.