Recoil of USD/CAD Has Resumed
Trading is on the upside for key resistance 1.2919, as the recoil from 1.2246 has resumed. Pivot points are at: (S1) 1.2702; (P) 1.2739; (R1) 1.2811.
Upside should be bounded by key resistance 1.2919. Below 1.2614 trading will back to the downside for 1.2450 and below.
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.