Further Increase in USD/CAD is Possible
Trading in the pair is on the upside, as a recoil from short term bottom 1.2412 goes on. Pivot points are at: (S1) 1.2643; (P) 1.2674; (R1) 1.2698.
Further increase in the pair is awaited. Overcoming of minor support 1.2552 will indicate completion of the recoil and trading will back to the downside for minimum 1.2412.
Price moves from a medium term top 1.4689 is a correction. A short term bottom is formed at 1.2412. 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. Overcoming of 1.2968 will point out completion of a correction.