Correction in USD/CAD Continues

Correction from 1.2916 continues, as the pair failed to sustain above minor resistance 1.2819. Pivot points are at: (S1) 1.2739; (P) 1.2787; (R1) 1.2827.

Overcoming of 1.2916 will prolong the growth from 1.2061 to 38.2% retracement of 1.4689 to 1.2061 at 1.3065. Downside should be contained by resistance 1.2598.

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.