Rise In USD/CAD Has Resumed

Technical Reports

Trading is on the upside for resistance 1.3225, as break of resistance 1.3132 indicates resumption of the growth from 1.2781. The pair’s growth reaches high 1.3141. Pivot points are at: (S1) 1.3023; (P) 1.3061; (R1) 1.3106.

Overcoming of near term channel resistance argues that the corrective fall from 1.3385 has completed. Hitting of resistance 1.3225 will aline v 1.3385 and above. Break of support 1.2969 will indicate completion of the growth.

The corrective fall from 1.3385 has completed, considering rejection from the channel resistance from 1.3385. Downside should be contained by strong support inside 1.2527/1.2723 zone to resume the uptrend from 1.2061. Overcoming of resistance 1.3132 will target a test on high 1.3385.