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USD/CAD: Fibonacci levels analysis on 30.06.2015

The downward correction is possible.

On the 4-hour chart, the pair USD/CAD is trading near the crossover between 61.8% Fibonacci retracement and 61.8% Fibonacci arc for a short-term trend. The breakdown of 1.2393 would allow the price to fall towards 1.2345 (50% Fibonacci) and 1.2300 (38.2% Fibonacci). The breakout of 61.8% arc and consolidation above 1.2420 may lead to the strong price rise towards 1.2470 and 1.2550. 

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