Temporary Low In USD/CAD
Trading is neutral with a temporary low at 1.3128. Break of 1.3067 will bring deeper fall to channel support (now at 1.2839). Pivot points are at: (S1) 1.3141; (P) 1.3185; (R1) 1.3230.
Trading above minor resistance 1.3258 will bring retest of 1.3385. Downside should be contained by strong support from 1.3067. Widening of a fall from 1.3385 is not excluded.
A medium term fall from 1.4689 has completed at 1.2061 ahead of 50% retracement of 0.9406 to 1.4689 at 1.2048. Further growth is possible for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. The pair’s forecast will remain bullish while channel support (now at 1.2825) keeps.