Daily Pivots: (S1) 1.3136; (P) 1.3182; (R1) 1.3215; More….

Range trading continues in USD/CAD and intraday bias remains neutral for the moment. Further decline is expected as long as 1.3386 resistance holds. Break of 1.3091 will resume larger fall and target 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

Daily Pivots: (S1) 1.3176; (P) 1.3202; (R1) 1.3249; More….

USD/CAD is still bounded in range trading above 1.3091 and intraday bias stays neutral first. Further decline is expected as long as 1.3386 resistance holds. Break of 1.3091 will resume larger fall and target 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

USD/CAD stayed in range trading above 1.3091 last week and outlook is unchanged. Initial bias remains neutral this week first. Further decline is expected as long as 1.3386 resistance holds. Break of 1.3091 will resume larger fall and target 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3048) holds.

Daily Pivots: (S1) 1.3130; (P) 1.3162; (R1) 1.3206; More….

Intraday bias in USD/CAD remains neutral, and outlook stays bearish with 1.3386 resistance intact. On the downside, break of 1.3091 will larger decline to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

Daily Pivots: (S1) 1.3142; (P) 1.3193; (R1) 1.3218; More….

USD/CAD is staying in range above 1.3091 and intraday bias stays neutral at this point. With 1.3386 resistance intact, outlook stays bearish. On the downside, break of 1.3091 will larger decline to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

Daily Pivots: (S1) 1.3142; (P) 1.3193; (R1) 1.3218; More….

Intraday bias in USD/CAD remains neutral as range trading continues. With 1.3386 resistance intact, outlook stays bearish. On the downside, break of 1.3091 will larger decline to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

Daily Pivots: (S1) 1.3163; (P) 1.3198; (R1) 1.3234; More….

No change in USD/CAD’s outlook as intraday bias remains neutral. Outlook will remain bearish as long as 1.3386 resistance holds. Break of 1.3091 will resume larger decline to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

Daily Pivots: (S1) 1.3132; (P) 1.3179; (R1) 1.3266; More….

Intraday bias in USD/CAD remains neutral for consolidation above 1.3091. Outlook will remain bearish as long as 1.3386 resistance holds. Break of 1.3091 will resume larger decline to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

USD/CAD edged lower to 1.3091 last week but quickly recovered. Initial bias is turned neutral this week first. But outlook will remain bearish as long as 1.3386 resistance holds. Break of 1.3091 will resume larger decline to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054. However, firm break of 1.3386 will indicate near term reversal and turn outlook bullish.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. But even so, deeper decline is expected as long as 1.3386 resistance holds. Further fall could be seen to 61.8% retracement of 1.2005 to 1.3976 at 1.2758. Meanwhile, break of 1.3386 will be a sign that the correction has completed and bring stronger rally back to retest 1.3976.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3048) holds.

Daily Pivots: (S1) 1.3078; (P) 1.3136; (R1) 1.3169; More….

USD/CAD’s fall is still in progress and intraday bias stays on the downside. Break of 1.3115 indicates resumption of larger down trend. Next targets are 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054, and then 100% projection at 1.2848. On the upside, above 1.3233 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 1.3386 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

Daily Pivots: (S1) 1.3141; (P) 1.3190; (R1) 1.3237; More….

Intraday bias in USD/CAD remains on the downside for retesting 1.3115 low. Firm break there will resume larger down trend, and target 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054, and then 100% projection at 1.2848. For now, outlook will remain bearish as long as 1.3386 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

Daily Pivots: (S1) 1.3209; (P) 1.3253; (R1) 1.3274; More….

USD/CAD’s strong break of 1.3202 support confirms completion of rebound from 1.3115 at 1.3385. Rejection by 55 D EMA also maintains near term bearishness. Intraday bias is back on the downside for retesting 1.3115 first. Break there will resume larger down trend to 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054, and then 100% projection at 1.2848. For now, outlook will remain bearish as long as 1.3386 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

Daily Pivots: (S1) 1.3209; (P) 1.3253; (R1) 1.3274; More….

Intraday bias in USD/CAD stays neutral at this point as it’s recovering after hitting 1.3202 support. On the upside, break of 1.3386 and sustained trading above 55 D EMA (now at 1.3358) will argue that whole corrective pattern from 1.3976 has completed with three waves down to 1.3115. Further rally should then be seen to 1.3653 resistance next. Nevertheless, firm break of 1.3202 support will bring retest of 1.3115 low instead.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

Daily Pivots: (S1) 1.3263; (P) 1.3284; (R1) 1.3300; More….

Intraday bias in USD/CAD remains neutral and outlook is unchanged. On the upside, break of 1.3386 and sustained trading above 55 D EMA (now at 1.3359) will argue that whole corrective pattern from 1.3976 has completed with three waves down to 1.3115. Further rally should then be seen to 1.3653 resistance next. Nevertheless, break of 1.3202 support will bring retest of 1.3115 low instead.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

Daily Pivots: (S1) 1.3233; (P) 1.3310; (R1) 1.3354; More….

Intraday bias in USD/CAD stays neutral at this point. On the upside, break of 1.3386 and sustained trading above 55 D EMA will argue that whole corrective pattern from 1.3976 has completed with three waves down to 1.3115. Further rally should then be seen to 1.3653 resistance next. Nevertheless, break of 1.3202 support will bring retest of 1.3115 low instead.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

USD/CAD rebounded strongly to 1.3386 last week, but failed to sustain above 55 D EMA (now at 1.3366), and retreated deeply. Initial bias is turned neutral this week first. On the upside, break of 1.3386 and sustained trading above 55 D EMA will argue that whole corrective pattern from 1.3976 has completed with three waves down to 1.3115. Further rally should then be seen to 1.3653 resistance next. Nevertheless, break of 1.3202 support will bring retest of 1.3115 low instead.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3048) holds.

Daily Pivots: (S1) 1.3304; (P) 1.3339; (R1) 1.3402; More….

USD/CAD’s rebound from 1.3115 short term bottom extended higher and it’s now pressing 55 D EMA (now at 1.3369). Intraday bias stays on the upside for the moment. Sustained trading above 55 D EMA will argue that whole corrective pattern from 1.3976 has completed with three waves down to 1.3115. Further rally should then be seen to 1.3653 resistance next. Nevertheless, break of 1.3202 support will bring retest of 1.3115 low instead.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

Daily Pivots: (S1) 1.3238; (P) 1.3265; (R1) 1.3311; More….

Intraday bias in USD/CAD remains on the upside as rebound from 1.3115 is extending. Further rally should be seen to 55 D EMA (now at 1.3369). On the downside, break of 1.3202 minor support will turn bias back to the downside for retesting 1.3115 low instead.

In the bigger picture, price actions from 1.3976 are still viewed as a correction to up trend from 1.2005 (2021 low). Risk will stay on the downside as long as 1.3299 support turned resistance holds. Next target is 61.8% retracement of 1.2005 to 1.3976 at 1.2758. However, sustained trading above 1.3229 will raise the chance that the correction has completed and turn focus back to 1.3653 resistance.

Daily Pivots: (S1) 1.3198; (P) 1.3228; (R1) 1.3252; More….

USD/CAD’s rebound from 1.3115 is trying to resume by breaching 1.3284 temporary top. Intraday bias is back on the upside for 55 D EMA (now at 1.3369). On the downside, break of 1.3202 minor support will turn bias back to the downside for retesting 1.3115 low instead.

In the bigger picture, price actions from 1.3976 are still viewed as a correction to up trend from 1.2005 (2021 low). Risk will stay on the downside as long as 1.3299 support turned resistance holds. Next target is 61.8% retracement of 1.2005 to 1.3976 at 1.2758. However, sustained trading above 1.3229 will raise the chance that the correction has completed and turn focus back to 1.3653 resistance.

Daily Pivots: (S1) 1.3198; (P) 1.3228; (R1) 1.3252; More….

Intraday bias USD/CAD remains neutral for the moment and outlook is unchanged. A short term bottom was formed at 1.3115, and further rise is mildly in favor. Break of 1.3284 will resume the rebound from 1.3115 to 55 D EMA (now at 1.3373).

In the bigger picture, price actions from 1.3976 are still viewed as a correction to up trend from 1.2005 (2021 low). Risk will stay on the downside as long as 1.3299 support turned resistance holds. Next target is 61.8% retracement of 1.2005 to 1.3976 at 1.2758. However, sustained trading above 1.3229 will raise the chance that the correction has completed and turn focus back to 1.3653 resistance.