Corrective Fall In USD/CAD Continues
Trading is on the downside for 100% projection of 1.3385 to 1.3063 from 1.3289 at 1.2967. The corrective fall from 1.3385 continues. Pivot points are at: (S1) 1.3037; (P) 1.3066; (R1) 1.3106.
Trading above 1.2912 will point out bottoming. In that case, trading will back to the upside for resistance 1.3289. Downside should be contained by strong support from rising channel line (now at 1.2912).
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. Overcoming of the channel support will point out completion of a growth from 1.2061 and bring deeper fall to support 1.2526.