Correction of USD/CAD Has Completed

Trading in the pair is on the upside for resistance 1.2916. Correction from 1.2916 should have completed at 1.2672. Pivot points are at: (S1) 1.2822; (P) 1.2847; (R1) 1.2890.

Overcoming of 1.2916 will renew the growth from 1.2061 to medium term fibonacci level 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.