Recoil of USD/CAD Continues

Technical Reports

Trading is on the upside for key resistance 1.2919, as the recoil from 1.2246 continues. Pivot points are at: (S1) 1.2796; (P) 1.2845; (R1) 1.2882.

Upside should be bounded by key resistance 1.2919. Overcoming of support 1.2614 will point out completion of the recoil from 1.2246. Below 1.2757 trading will back to the downside.

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.