Temporary Top In USD/CAD

Technical Reports

Trading is neutral for consolidation, as a temporary top was formed at 1.3132. Further growth is expected, while minor support 1.3027 keeps. Trading above 1.3132 will aline resistance 1.3225. Pivot points are at: (S1) 1.3066; (P) 1.3094; (R1) 1.3112.

Overcoming of resistance 1.3225 will indicate completion of corrective decline from 1.3385 at 1.2781. Break of minor support 1.3027 will point out rejection from channel resistance and trading back to the downside for 1.2916 and below.

The corrective fall from 1.3385 has completed at 1.2781 already, suggesting that the uptrend from 1.2061 continues. Overcoming of support 1.2916 will extend the fall from 1.3385 to 61.8% retracement of 1.2061 to 1.3385 at 1.2567. Hitting of 1.3385 will aline to 61.8% retracement of 1.4689 to 1.2061 at 1.3685.