Consolidation of USD/CAD Extends
Stance of trading is neutral, as the consolidation below temporary high 1.2687 goes on. Pivot points are at: (S1) 1.2549; (P) 1.2586; (R1) 1.2617.
Further growth is awaited while minor support 1.2489 keeps. Trading above 1.2687 will widen the growth from 1.2246 to resistance 1.2919.
Corrective fall from 1.4689 goes on, and the pair is staying below 55 day EMA. Overcoming of minimum 1.2061 will target 61.8% retracement of 0.9406 to 1.4689 at 1.1424. Break of 1.2919 will restore the case of a medium term trend reversal.