FX.co ★ USD/CAD technical analysis for May 27

Support levels: 1.0539, 1.0458, 1.0251
Resistance levels: 1,0858, 1.0990, 1.1100

The pair keeps on retracing.
The USD/CAD break through the level of 1.0650 indicates that a short-term high has been formed at 1.0858. However, the attitude to the currency pair remains bullish until the support level of 1.0539 is broken. If USD/CAD is able to break this mark, this will make the pair targeted to 1.0251.
As stated before, the pair is expected to upmove to 100% projection from 0.9930 to 1.0741 till 1.0102 at the level of 1.0924.
Moreover, getting through the important resistance level of 1.0779 will cause the growth of the pair to the Fibonacci correctional level of 38.2 from 1.3063 till 0.9930 at 1.1126.
In short-term, breaking of the main resistance level of 1.0779 denotes the rebound of a falling trend from 1.3063 to 0.9930. Now USD/CAD is expected to climb to the Fibonacci correctional level of 61.8 from 1.3063 to 0.9930 at 1.1867.