Consolidation in USD/CAD Goes On

Technical Reports

Trading is neutral, as the pair stays in consolidation above 1.3164.

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 1.2968.

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.

Increase from 0.9056 is a long term uptrend, and this rise will resume later to test 1.6196 level.