At the end of last week, a test occurred in the monthly control zone (KZ) of February at 1.2690-1.2647, which led to the appearance of a large offer and the formation of an intraday absorption model.

Medium-term plan.

The monthly KZ test of February 1.2690-1.2647 led to a daily fall in the rate. The benchmark for fixing some portion of the sales is the weekly KZ 1.2549-1.2528, where the course of the upward movement will be determined. If the USD/CAD pair can stay above this zone, then the bullish momentum will continue, and the monthly maximum will become one of the growth targets. To break the ascending level, the closing of trade during the American session this week should be below the level of 1.2528. This will allow to maintain some portion of sales and consider a short position.

The alternative model will develop today which will exceed the ascending decline last Friday. Since the Friday's decline allowed the pair to close just below the NKZ 1/2 1.2652-1.2642, the downward movement becomes impulsive at the intraday level. Keeping the price below the specified control zone makes it possible to consider fixing a short position within a weekly short-term order 1.2549-1.2528. Continuous sales are possible when forming a corrective upward model.

Daytime CP is the daytime control zone. The zone is formed by important data from the futures market, which change several times a year.

Weekly CP is the weekly control zone. The zone formed by important futures market marks, which change several times a year.

Monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.

* The presented market analysis is informative and does not constitute a guide to the transaction.