USD/CAD: Recovery Continues

Technical Reports

Trading tone is neutral, as the pair is staying below 1.2757. Upside of the pair should be bounded by key resistance 1.2919. Pivot points are at: (S1) 1.2628; (P) 1.2670; (R1) 1.2725.

Trading above 1.2757 will renew the recopil from 1.2246. In that case, the pair will target a test on key resistance 1.2919. Below 1.2450 trading will back to the downside for support 1.2246.

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.