Short Term Bottoming in USD/CAD is Possible

Technical Reports

Trading in the pair is on the downside for support 1.2968, as fall from 1.3793 has resumed. Pivot points are at: (S1) 1.3143; (P) 1.3202; (R1) 1.3256.

Corrective growth from 1.2460 has completed at 1.3793. Overcoming of resistance 1.3346 will point out short term bottoming.

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.