Trading of USD/CAD is Bounded

Stance of trading is neutral, as the pair stays in a range between 1.2598/2919. Pivot points are at: (S1) 1.2678; (P) 1.2758; (R1) 1.2819.

Overcoming of 1.2916 will renew the growth from 1.2061 to medium term fibonacci level 1.3065. Completion of a recoil from 1.2061 is awaited. Considering resistance 1.2598, increase in the pair might extend.

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.