The USD/CAD pair broke down during the week, breaking below 1.20 for the third week in a row. However, we ended up finding enough support to turn things back around again as the 38.2% Fibonacci retracement level looks to be supportive.
PIVOT POINTS WEEKLY
S3 S2 S1 P R1 R2 R1
1.1570 1.18 1.19 1.2025 1.2130 1.2250 1.2480
By Theodoros Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk