Pull Back Of USD/CAD Extended Lower
Trading is neutral, despite pull back from 1.3325 extended lower. Corrective drop from 1.3385 has completed at 1.2886. Pivot points are at: (S1) 1.3014; (P) 1.3094; (R1) 1.3147.
Overcoming of 1.3225 will bring a test on maximum 1.3385. In that case, trading will back to the upside. Downside of retreat should be contained above 1.2886.
Growth from low 1.2061 continues. Strong bounce ahead of 38.2% retracement of 1.2061 to 1.3385 at 1.2879 key fibonacci level retains medium term bullishness. Overcoming of 1.3384 should aline 61.8% retracement of 1.4689 to 1.2061 at 1.3685.