Corrective Pull Back in USD/CAD Continues

Stance of trading in the pair is neutral, as a corrective pull back from 1.2916 goes on. Further growth is awaited in the pair. Pivot points are at: (S1) 1.2652; (P) 1.2696; (R1) 1.2725.

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.