Consolidation in USD/CAD is Expected
Trading in the pair is on the downside. Pivot points are at: (S1) 1.2612; (P) 1.2679; (R1) 1.2715.
The pair can test minimum 1.2460. Trading above minor resistance 1.2770 will become neutral and bring consolidation.
Price moves from a medium term top 1.4689 is a correction. Decline from 1.3793 is the third leg of a correction. 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.