The USD/CAD Remains in Consolidation

Technical Reports

Stance of trading is neutral, as consolidation from 1.2916 goes on. 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.