In an alternative scenario, the USD/CAD may correct and rise to the short-term resistance level 1.2542, and in case of its breakdown - to the resistance level 1.2660. But even in case of its breakdown, growth above the resistance level 1.2740 (Fibonacci level 38.2%) is unlikely. The bearish trend in USD / CAD prevails (see "Fundamental Analysis and Market Expectations")
; below the key resistance levels 1.2890, 1.2990, short positions are preferred.
Support levels: 1.2460, 1.2170
Resistance levels: 1.2542, 1.2590, 1.2636, 1.2660, 1.2740, 1.2890, 1.2990, 1.3070, 1.3150
Trading recommendations
Sell Stop 1.2450. Stop-Loss 1.2520. Take-Profit 1.2400, 1.2300, 1.2170
Buy Stop 1.2520. Stop-Loss 1.2450. Take-Profit 1.2542, 1.2590, 1.2636, 1.2660, 1.2740, 1.2890, 1.2990, 1.3070, 1.3150
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**) USD/CAD: Current Fundamental Analysis and Market Expectations
