USD/CAD growth was stopped by resistance levels 1.2740 (Fibonacci level 38.2% of the downward correction in the wave of USD/CAD growth from 0.9700 to 1.4600), 1.2800.
In case of breakdown of the support levels 1.2510, 1.2461 USD/CAD will go deep into the descending channel on the weekly chart and to the support levels 1.2165 (50% Fibonacci level), 1.2010 (2021 lows).
In an alternative scenario, a confirmed breakdown of the resistance levels 1.2740, 1.2800 will create preconditions for further growth of USD/CAD towards the resistance level of 1.2950, which will return USD / CAD to a long-term bull market.
Sell Stop 1.2490. Stop-Loss 1.2615. Take-Profit 1.2460, 1.2440, 1.2275, 1.2165, 1.2100, 1.2010.
Buy Stop 1.2615. Stop-Loss 1.2490. Take-Profit 1.2680, 1.2740, 1.2950.