Recovery In USD/CAD
Trading is neutral, but deeper drop is still possible. Fall from 1.3385 is corrective. Pivot points are at: (S1) 1.2980; (P) 1.3010; (R1) 1.3032.
Downside should be contained by strong support from channel line (now at 1.2917). Trading above minor resistance 1.3039 will back to the upside for support turned resistance 1.3063.
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.