Growth of USD/CAD Extends
Trading is on the upside for 100% projection of 1.2246 to 1.2687 from 1.2450 at 1.2891. The recoil from 1.2246 continues. Upside of the pair should be bounded by key resistance 1.2919. Pivot points are at: (S1) 1.2667; (P) 1.2709; (R1) 1.2748.
Trading below minor support 1.2624 will become neutral, but further growth is expected in the pair while support 1.2450 keeps.
Corrective fall from 1.4689 goes on, and the pair is staying below 55 week 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.