The USD/CAD Remains in Consolidation
Stance of trading in the pair is neutral for consolidation below temporary top 1.2916. Pivot points are at: (S1) 1.2835; (P) 1.2875; (R1) 1.2927.
A medium term trend can reverse. Downside of retreat should be contained by resistance 1.2598. Overcoming of 1.2916 will prolong the growth from 1.2061 to 38.2% retracement of 1.4689 to 1.2061 at 1.3065
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. Overcoming of 1.2048 will indicate that decline from 1.4689 is a medium term downtrend.