The USD/CAD Stays in a Recent Range

Technical Reports

Stance of trading is neutral. The pair has formed a temporary minimum at 1.2281, and consolidation above that level goes on. Pivot points are at: (S1) 1.2304; (P) 1.2341; (R1) 1.2375.

Fall resumption from 1.2919 is awaited for retesting of a minimum 1.2061. Overcoming of minor resistance 1.2490 will indicate a short term bottoming.

The recoil from 1.2061 has completed at 1.2919. Corrective fall from 1.4689 goes on. Overcoming of minimum 1.2061 will target 61.8% retracement of 0.9406 to 1.4689 at 1.1424.