Fall in USD/CAD Has Resumed

Technical Reports

Trading is on the downside, as a fall resumed and reached minimum 1.2480. The pair’s consolidation has completed. Pivot points are at: (S1) 1.2462; (P) 1.2508; (R1) 1.2534.

Overcoming of resistance 1.2554 will point out a short term bottoming. The decline from 1.2919 should prolong to 61.8% retracement of 1.2061 to 1.2919 at 1.2389.

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.