Growth in USD/CAD Can Extend

Trading is on the upside. Further increase in the pair is awaited. Pivot points are at: (S1) 1.2388; (P) 1.2453; (R1) 1.2492.

Overcoming of resistance 1.2777 will target 38.2% retracement of 1.4689 to 1.2061 at 1.3065. The pair should have defended key long term fibonacci level at 2.1048.

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.