The USD/CAD Has Lost Upside Impulse
Trading tone is neutral, as the pair has lost upside momentum. Pivot points are at: (S1) 1.2828; (P) 1.2871; (R1) 1.2924.
Overcoming of 1.2919 will renew the growth from minimum 1.2061 and aline fibonacci level 1.3065. Below 1.2757 trading will back to the downside for support 1.2614.
A medium term trend reversal is awaited after support from 50% retracement of 0.9406 to 1.4689 at 1.2048. Overcoming of 1.2919 will target 38.2% retracement of 1.4689 to 1.2061 at 1.3065 first. Break of a near term support 1.2450 will turn focus back to minimum 1.2061.