Fall in USD/CAD Can Widen

Trading in the pair is on the downside. Pivot points are at: (S1) 1.2705; (P) 1.2738; (R1) 1.2755.

Widening of a decline is awaited. Overcoming of resistance 1.2938 will point out a short term bottom. The pair can test minimum 1.2460.

Price moves from a medium term top 1.4689 is a correction. The second leg should have finished at 1.3793. Downside of the pair should be contained by support from 50% retracement of 0.9406 to 1.4869 at 1.2048. Recoil in the pair is possible.