The USD/CAD Stays in Consolidation

Stance of trading in the pair is neutral, as consolidation from temporary top 1.2916 goes on. Further growth is awaited in the pair. Pivot points are at: (S1) 1.2713; (P) 1.2766; (R1) 1.2830.

Overcoming of 1.2916 will prolong the growth from 1.2061 to 38.2% retracement of 1.4689 to 1.2061 at 1.3065. Completion of the recoil from 1.2061 is expected.

Decline from 1.4689 is a correction. Focus is now on 50% retracement of 0.9406 to 1.4869 at 1.2048. Growth from a medium term bottom 1.2061 should target 38.2% retracement of 1.4689 to 1.2061 at 1.3065.