Daily Pivots: (S1) 1.3562; (P) 1.3590; (R1) 1.3609; More….

Intraday bias in USD/CAD remains mildly on the downside and outlook is unchanged. While pull back from 1.3784 could extend lower, outlook will stay bullish as long as 1.3378 support holds. On the upside, above 1.3675 minor resistance will turn bias back to the upside for retesting 1.3784 next.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3623; (P) 1.3684; (R1) 1.3725; More….

Intraday bias in USD/CAD is mildly on the downside as the pull back from 1.3784 extends. While deeper pull back cannot be ruled out, outlook will stay bullish as long as 1.3378 support holds. On the upside, above 1.3675 minor resistance will turn bias back to the upside for retesting 1.3784 next.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3623; (P) 1.3684; (R1) 1.3725; More….

Intraday bias in USD/CAD remains neutral as consolidation from 1.3784 is extending. While deeper pull back cannot be ruled out, outlook will stay bullish as long as 1.3378 support holds. Above 1.3784 will resume the rally from 1.3091 and target 100% projection of 1.3091 to 1.3693 from 1.3378 at 1.3980.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

USD/CAD’s rise from 1.3091 resumed last week and surged to 1.3784, before retreating. Initial bias stays neutral this week first, and more consolidations could be seen below 1.3784. While deeper pull back cannot be ruled out, outlook will stay bullish as long as 1.3378 support holds. Above 1.3778 will resume the rally from 1.3091 and target 100% projection of 1.3091 to 1.3693 from 1.3378 at 1.3980.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now 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 1.3100) holds.

Daily Pivots: (S1) 1.3678; (P) 1.3731; (R1) 1.3759; More….

Despite edging higher to 1.3784, USD/CAD quickly retreated back into established range. Intraday bias remains neutral and some more consolidations could be seen. While deeper pull back cannot be ruled out, outlook will stay bullish as long as 1.3378 support holds. Above 1.3778 will resume the rally from 1.3091 and target 100% projection of 1.3091 to 1.3693 from 1.3378 at 1.3980.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3697; (P) 1.3739; (R1) 1.3786; More….

Intraday bias in USD/CAD is turned neutral with current retreat, and some consolidations could be seen first. But outlook will stay bullish as long as 1.3378 support holds. Above 1.3778 will resume the rally from 1.3091 and target 100% projection of 1.3091 to 1.3693 from 1.3378 at 1.3980.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3668; (P) 1.3702; (R1) 1.3743; More….

Intraday bias in USD/CAD remains on the upside at this point. Current rise from 1.3091 should target 61.8% projection of 1.3091 to 1.3693 from 1.3378 at 1.3750. Firm break there will target 100% projection at 1.3980. On the downside, below 1.3654 minor support will turn intraday bias neutral first.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3598; (P) 1.3639; (R1) 1.3717; More….

USD/CAD’s break of 1.3693 minor resistance indicates resumption of whole rally from 1.3091. Intraday bias stays on upside for 61.8% projection of 1.3091 to 1.3693 from 1.3378 at 1.3750. Firm break there will target 100% projection at 1.3980. On the downside, below 1.3654 minor support will turn intraday bias neutral first.

In the bigger picture, current development revives the case that corrective pattern from 1.3976 (2022 high) has 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 will be 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This will now remain the favored case as long as 1.3378 support holds.

Daily Pivots: (S1) 1.3470; (P) 1.3527; (R1) 1.3638; More….

Intraday bias in USD/CAD stays mildly on the upside for retesting 1.3693. Strong resistance could be seen there to limit upside on first attempt. On the downside, below 1.3415 support will resume the fall from 1.3693 through 1.3378 to 61.8% retracement of 1.3091 to 1.3693 at 1.3321.

In the bigger picture, no change in the view that price actions from 1.3976 (2022 high) are a corrective pattern to up trend from 1.2005 (2021 low). The question is whether it has completed with three waves down to 1.3091, or still extending. But even in case of extension, downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Meanwhile, firm break of 1.3693 should validate the former case, and target 1.3976 and above.

USD/CAD’s late rebound last week suggests that pull back from 1.3693 has completed at 1.3378. Initial bias is back on the upside for retesting 1.3693 high next. Strong resistance could be seen there to limit upside on first attempt. On the downside, below 1.3415 support will resume the fall from 1.3693 through 1.3378 to 61.8% retracement of 1.3091 to 1.3693 at 1.3321.

In the bigger picture, no change in the view that price actions from 1.3976 (2022 high) are a corrective pattern to up trend from 1.2005 (2021 low). The question is whether it has completed with three waves down to 1.3091, or still extending. But even in case of extension, downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Meanwhile, firm break of 1.3693 should validate the former case, and target 1.3976 and above.

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 1.3082) holds.

Daily Pivots: (S1) 1.3466; (P) 1.3491; (R1) 1.3511; More….

No change in USD/CAD as consolidation from 1.3378 is extending. Intraday bias stays neutral. Further decline remains mildly in favor. Break of 1.3378 will resume the fall from 1.3693, as another leg in the corrective pattern from 1.3976 high, to 61.8% retracement of 1.3091 to 1.3693 at 1.3321. However, firm break of 1.3548 will turn bias back to the upside for retesting 1.3693 instead.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

Daily Pivots: (S1) 1.3480; (P) 1.3512; (R1) 1.3528; More….

Outlook in USD/CAD remains unchanged as consolidation from 1.3378 is in progress. Further decline remains mildly in favor. Break of 1.3378 will resume the fall from 1.3693, as another leg in the corrective pattern from 1.3976 high, to 61.8% retracement of 1.3091 to 1.3693 at 1.3321. However, firm break of 1.3548 will turn bias back to the upside for retesting 1.3693 instead.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

Daily Pivots: (S1) 1.3442; (P) 1.3467; (R1) 1.3480; More….

Intraday bias in USD/CAD remains neutral for the moment. Break of 1.3378 will resume the fall from 1.3693, as another leg in the corrective pattern from 1.3976 high, to 61.8% retracement of 1.3091 to 1.3693 at 1.3321. However, firm break of 1.3548 will turn bias back to the upside for retesting 1.3693 instead.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

Daily Pivots: (S1) 1.3442; (P) 1.3467; (R1) 1.3480; More….

USD/CAD is staying in consolidation from 1.3378 and intraday bias remains neutral. Risk will stay on the downside as long as 1.3548 resistance holds. Break of 1.3378 will resume the fall from 1.3693, as another leg in the corrective pattern from 1.3976 high, to 61.8% retracement of 1.3091 to 1.3693 at 1.3321. However, firm break of 1.3548 will turn bias back to the upside for retesting 1.3693 instead.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

Daily Pivots: (S1) 1.3441; (P) 1.3466; (R1) 1.3509; More….

Intraday bias in USD/CAD remains neutral as consolidation from 1.3378 is extending. Risk will stay on the downside as long as 1.3548 resistance holds. Break of 1.3378 will resume the fall from 1.3693, as another leg in the corrective pattern from 1.3976 high, to 61.8% retracement of 1.3091 to 1.3693 at 1.3321.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

USD/CAD’s deep decline last week argues that rise from 1.3091 might have completed at 1.3693 already. Fall from there is probably another leg in the corrective pattern from 1.3976 high. Initial bias stays neutral this week for consolidation above 1.3378 temporary low. But risk stays on the downside as long as 1.3548 resistance holds. Below 1.3378 will target 61.8% retracement of 1.3091 to 1.3693 at 1.3321.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

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 1.3082) holds.

Daily Pivots: (S1) 1.3412; (P) 1.3446; (R1) 1.3495; More….

Intraday bias in USD/CAD is turned neutral for now, as it recovered after dipping to 1.3378. Some consolidations are expected by another fall is in favor. Below 1.3378 will target 61.8% retracement of 1.3091 to 1.3693 at 1.3321. Sustained break there will target 1.3091 support next. Nevertheless, break of 1.3548 resistance will turn bias back to the upside for 1.3693 resistance instead.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

Daily Pivots: (S1) 1.3390; (P) 1.3442; (R1) 1.3499; More….

Intraday bias in USD/CAD remains on the downside for the moment. Current fall from 1.3693 is seen as another falling leg in the corrective pattern from 1.3976. Deeper decline would be seen to 61.8% retracement of 1.3091 to 1.3693 at 1.3321. Sustained break there will target 1.3091 support next. On the upside, above 1.3492 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

Daily Pivots: (S1) 1.3462; (P) 1.3496; (R1) 1.3519; More….

Intraday bias in USD/CAD stays on the downside at this point. Current fall from 1.3693 is seen as another falling leg in the corrective pattern from 1.3976. Deeper decline would be seen to 61.8% retracement of 1.3091 to 1.3693 at 1.3321. Sustained break there will target 1.3091 support next. On the upside, above 1.3492 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern to the up trend from 1.2005 (2021 low). Deeper decline could be seen as the pattern is now extending. But downside should be contained by 50% retracement of 1.2005 to 1.3796 at 1.2991. Rise from 1.2005 is still expected to resume after the correction completes.

Daily Pivots: (S1) 1.3462; (P) 1.3496; (R1) 1.3519; More….

USD/CAD’s break of 1.3488 support argues that rise from 1.3091 might have completed at 1.3693. Intraday bias is mildly on the downside at this point. Sustained trading below 55 D EMA (now at 1.3467) will target 61.8% retracement of 1.3091 to 1.3693 at 1.3321, as another leg of the corrective pattern from 1.3976. Nevertheless, break of 1.3693 will revive near term bullishness for 1.3860/3876 resistance zone.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern. Strong support from 55 D EMA (now at 1.3467) will solidify the case that it has completed with three waves down to 1.3091 already. Break of 1.3976 will target 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. However, sustained break of 55 D EMA will indicate that the pattern is extending with another falling leg before completion.