Technical analysis:
USD/CAD has been trading flat during the first part of Europe session. I see potential for the downside movement.
Trading recommendation:
Due to rejection of the key resistance at the price of 1,2936, I see potential for the downside movement towards important pivots at 1,2888 and 1,2878
Watch for selling opportunities on the rallies with the downside objectives at 1,2888 and 1,2878
Stochastic is showing fresh bear cross from overbought zone, which is another sign and confirmation for the downside rotation.
Key resistance is set at the price of 1,2936
