Trend Reversal in USD/CAD is Awaited

Trading in the pair is neutral, as a consolidation from 1.2061 goes on. Pivot points are at: (S1) 1.2326; (P) 1.2355; (R1) 1.2399.

Breach of 1.2048 level will align fibonacci level of 1.1424. Overcoming of support 1.2439 will indicate trend reversal. Strong growth in the pair is awaited.

Decline from 1.4689 is a correction. Focus is now on 50% retracement of 0.9406 to 1.4869 at 1.2048. Recoil from 1.2048 can prolong uptrend from 0.9406.