Bounce Of USD/CAD Has Completed

Technical Reports

Stance of trading is neutral, as the bounce from 1.2728 failed below resistance 1.2996. Growth from 1.2061 continues. Pivot points are at: (S1) 1.2747; (P) 1.2816; (R1) 1.2861.

Overcoming of 1.2728 will turn focus back to support 1.2526. Trading above 1.2996 will aline 1.3124.

The bounce from 1.2061 goes on, with focus on 38.2% retracement of 1.4689 to 1.2061 at 1.3065. Trading above there will confirm a medium term bullish reversal. A downtrend from 1.4689 has completed at 1.2061, and the next target is 61.8% retracement at 1.3685.