Recoil of USD/CAD Has Completed

Technical Reports

Trading is on the downside. The rebound from 1.2061 has completed at 1.2919. Pivot points are at: (S1) 1.2535; (P) 1.2598; (R1) 1.2630.

Overcoming of minor resistance 1.2697 will indicate a short term bottoming.

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.