Recoil of USD/CAD Has Finished
Trading is on the downside for retesting minimum 1.2246. Pivot points are at: (S1) 1.2438; (P) 1.2543; (R1) 1.2596.
Overcoming of minor support 1.2489 points out completion of the recoil from 1.2246 at 1.2687. Break of minimum 1.2246 will renew the drop from 1.2919. In that case, the pair will target key support level at 1.2061.
Corrective fall from 1.4689 goes on, and the pair is staying below 55 day EMA. Overcoming of key support 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.