Consolidation In USD/CAD

Technical Reports

Trading is neutral for consolidation, as the pair retreated sharply after hitting 1.3318. Further growth is expected while support 1.3141 keeps. Pivot points are at: (S1) 1.3200; (P) 1.3260; (R1) 1.3291.

Trading above resistance 1.3385 will resume larger uptrend from 1.2061 to fibonacci level 1.3685. Break of 1.3318 will extend the growth from 1.2781 to resistance 1.3385.

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.