Range Trading In USD/CAD
Stance of trading is neutral, as the pair is bounded in a range of 1.3056/3264. Further growth is expected while support 1.3056 keeps. Pivot points are at: (S1) 1.3141; (P) 1.3171; (R1) 1.3203.
Trading above 1.3264 will widen the growth from 1.2781 to retest high 1.3385. Hitting of 1.3056 will point out a near term trend reversal and turn focus back to low 1.2781.
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.