Range Trading In USD/CAD
Trading is still neutral, as the pair is staying in a range of 1.3048/3170. Trading above 1.3170 will widen the growth from 1.2781 to key near term resistance 1.3225. Pivot points are at: (S1) 1.3061; (P) 1.3110; (R1) 1.3164.
Break of support 1.2969 will indicate completion of the growth from 1.2781. If the growth completes, the fall from 1.3385 might extend through support 1.2781. Trading below minor support 1.3068 will back to the downside for support 1.2969.
The corrective fall from 1.3385 has completed at 1.2781 and whole uptrend from 1.2061 is ready to resume. Overcoming of 1.3385 will aline 61.8% retracement of 1.4689 to 1.2061 at 1.3685. This will be preferred case while support 1.2781 keeps.