Decline in USD/CAD Continues

Trading in the pair is on the downside, as fall goes on. Pivot points are at: (S1) 1.2391; (P) 1.2467; (R1) 1.2521.

Overcoming of 1.2543 level will point out short term bottoming. Trading below key support 1.2460 will target key fibonacci level at 1.2048.

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.