Daily Pivots: (S1) 1.3473; (P) 1.3540; (R1) 1.3586; More…

USD/CAD’s fall from 1.3897 resumed by breaking through 1.3479 support. Intraday bias is back on the downside for 1.3378 support zone. Strong support is expected there to bring rebound. But still, break of 1.3617 resistance is needed to indicate short term bottoming. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

Daily Pivots: (S1) 1.3551; (P) 1.3585; (R1) 1.3625; More…

Intraday bias in USD/CAD remains neutral at this point as range trading continues. On the upside, firm break of 1.3265 minor resistance will confirm short term bottoming at 1.3479. More importantly, whole correction from 1.3897 could have completed too. Intraday bias will be back on the upside for strong rally back to 1.3853/3897 resistance zone. However, break of 1.3544 minor support will turned bias back to the downside for 1.3479 and below, to resume the decline from 1.3897.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

Daily Pivots: (S1) 1.3548; (P) 1.3576; (R1) 1.3603; More…

No change in USD/CAD’s outlook and intraday bias stays neutral. On the downside, below 1.3547 minor support will argue that recovery from 1.3479 has completed. Intraday bias will be turned back to the downside for 1.3479 and below, to resume the decline from 1.3897. But downside should be contained by 1.3378 support, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399, to bring rebound. On the upside, break of 1.3625 resistance will indicate short term bottoming, and turn bias to the upside for stronger rise.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

Daily Pivots: (S1) 1.3552; (P) 1.3581; (R1) 1.3611; More…

Intraday bias in USD/CAD remains neutral for the moment. On the downside, below 1.3479 will resume the corrective fall from 1.3897. But downside should be contained by 1.3378 support, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399, to bring rebound. On the upside, break of 1.3625 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rise.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

USD/CAD edged lower to 1.3479 last week but recovered since then. Yet, upside is capped below 1.3625 resistance. Initial bias stays neutral this week first. On the downside, below 1.3479 will resume the corrective fall from 1.3897. But downside should be contained by 1.3378 support, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399, to bring rebound. On the upside, break of 1.3625 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rise.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

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 1.3126) holds.

Daily Pivots: (S1) 1.3584; (P) 1.3601; (R1) 1.3619; More…

Range trading continues in USD/CAD and intraday bias stays neutral. On the downside, below 1.3479 will resume the corrective fall from 1.3897. But downside should be contained by 1.3378 support, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399, to bring rebound. On the upside, break of 1.3625 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rise.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

Daily Pivots: (S1) 1.3562; (P) 1.3581; (R1) 1.3613; More…

Intraday bias in USD/CAD stays neutral and outlook is unchanged. On the downside, below 1.3479 will resume the corrective fall from 1.3897. But downside should be contained by 1.3378 support, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399, to bring rebound. On the upside, break of 1.3625 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rise.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

Daily Pivots: (S1) 1.3551; (P) 1.3574; (R1) 1.3615; More…

No change in USD/CAD’s outlook and intraday bias stays neutral at this point. Below 1.3479 will resume the corrective fall from 1.3897. But downside should be contained by 1.3378 support, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399, to bring rebound. On the upside, break of 1.3625 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rise.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

Daily Pivots: (S1) 1.3491; (P) 1.3526; (R1) 1.3573; More…

Intraday bias in USD/CAD remains neutral for the moment. Below 1.3479 will resume the corrective fall from 1.3897. But downside should be seen from 1.3378 support, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399, to bring rebound. On the upside, break of 1.3625 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rise.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

Daily Pivots: (S1) 1.3463; (P) 1.3521; (R1) 1.3555; More…

Intraday bias in USD/CAD is turned neutral first with current recovery, and some consolidations could be seen above 1.3479 temporary low. Still, further decline is expected as long as 1.3625 resistance holds. Below 1.3479 will resume the fall from 1.3897 to 1.3378 support next, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399. Strong support could be seen there to bring rebound.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

USD/CAD’s decline from 1.3897 extend to as low as 1.3486 last week and there is no sign of bottoming yet. Initial bias stays on the downside this week for 1.3378 support next, which is close to 61.8% retracement of 1.3091 to 1.3897 at 1.3399. Strong support could be seen there to bring rebound. Meanwhile, on the upside, above 1.3625 minor resistance will turn intraday bias neutral again first.

In the bigger picture, rise from 1.3091 is seen as the fifth leg of the whole rise from 1.2005 (2021 low). Further rally is expected as long as 1.3378 support holds, to 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. However, decisive break of 1.3378 will dampen this view and bring deeper fall back to 1.3091 instead.

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 1.3126) holds.

Daily Pivots: (S1) 1.3532; (P) 1.3579; (R1) 1.3606; More…

Intraday bias in USD/CAD remains on the downside at this point. Current fall from 1.3897 is in progress, and should target 1.3378 support next. On the upside, though, above 1.3625 minor resistance will turn intraday bias neutral again first.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3532; (P) 1.3579; (R1) 1.3606; More…

USD/CAD’s fall from 1.3897 resumed after brief recovery. Intraday bias is back on the downside. Further fall should be seen to 1.3378 support next. On the upsi8de, though, above 1.3625 minor resistance will turn intraday bias neutral again first.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3549; (P) 1.3582; (R1) 1.3623; More…

A temporary low is formed at 1.3539 with current recovery and intraday bias is turned neutral first. Further decline is expected as long as 1.3653 support turned resistance holds. Below 1.3539 will resume the correction from 1.3897 to 1.3378 support next.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3547; (P) 1.3585; (R1) 1.3610; More…

USD/CAD’s decline extends today and the break of 38.2% retracement of 1.3091 to 1.3897 at 1.3589 indicates deeper correction is underway. Intraday bias remains on the downside. Next target is 161.8% projection of 1.3897 to 1.3627 from 1.3853 at 1.3416. On the upside, above 1.3627 support turned resistance will turn intraday bias neutral and bring recovery first.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3599; (P) 1.3631; (R1) 1.3647; More…

At this point, strong support is still expected from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to contain downside and bring rebound. Break of 1.3711 minor resistance will turn bias back to the upside for retesting 1.3897. However, sustained break of 1.3589 will indicate that deeper correction is underway to 61.8% retracement at 1.3399 next.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3581; (P) 1.3648; (R1) 1.3701; More…

No change in USD/CAD’s outlook. Stronger support is still expected from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to contain downside and bring rebound. Break of 1.3711 minor resistance will turn bias back to the upside for retesting 1.3897. However, sustained break of 1.3589 will indicate that deeper correction is underway to 61.8% retracement at 1.3399 next.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

USD/CAD’s decline from 1.3897 resumed last week and dipped to as low as 1.3592. For now, strong support is still expected from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to contain downside and bring rebound. Break of 1.3711 minor resistance will turn bias back to the upside for retesting 1.3897. However, sustained break of 1.3589 will indicate that deeper correction is underway to 61.8% retracement at 1.3399 next.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

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 1.3126) holds.

Daily Pivots: (S1) 1.3661; (P) 1.3686; (R1) 1.3721; More…

USD/CAD is still extending the sideway pattern from 1.3897 and intraday bias remains neutral. While another fall cannot be ruled out, downside should be contained by 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound. Break of 1.3897 is expected at a later stage to resume larger rally.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3660; (P) 1.3712; (R1) 1.3740; More…

No change in USD/CAD’s outlook as sideway trading continues below 1.3897. While another fall cannot be ruled out, downside should be contained by 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound. Break of 1.3897 is expected at a later stage to resume larger rally.

In the bigger picture, corrective pattern from 1.3976 (2022 high) should have completed with three waves down to 1.3091. Decisive break of 1.3976 high will confirm resumption of up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will remain the favored case as long as 1.3378 support holds.