Daily Pivots: (S1) 1.3569; (P) 1.3605; (R1) 1.3640; More….

Intraday bias in USD/CAD remains on the upside at this point. Decisive break of 1.3653 resistance there will confirm that correction from 1.3976 has completed, and target a test on this high. On the downside, however, break of 1.3509 support will indicate short term topping, and turn bias to the downside for some correction first.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. For now, this will remain the favored case as long as 55 D EMA (now at 1.3387) holds.

USD/CAD’s rally from 1.3091 continued last week despite some interim retreat. Initial bias is now on the upside this week for 1.3653 resistance. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high. On the downside, however, break of 1.3509 support will indicate short term topping, and turn bias to the downside for some correction first.

In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. For now, this will remain the favored case as long as 55 D EMA (now at 1.3387) 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 1.3044) holds.

Daily Pivots: (S1) 1.3532; (P) 1.3561; (R1) 1.3611; More….

USD/CAD is staying in range below 1.3602 and intraday bias remains neutral. On the upside, break of 1.3602 will resume the whole rally from 1.3091 to 1.3653 resistance first. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high. However, break of 1.3495 will indicate short term topping, on bearish divergence condition in 4H MACD, and turn bias to the downside for deeper pull back.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3495; (P) 1.3550; (R1) 1.3579; More….

Intraday bias in USD/CAD is turned neutral again as it retreat after rising to 1.3602. Above 1.3602 will resume the whole rally from 1.3091 to 1.3653 resistance first. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high. However, break of 1.3495 will indicate short term topping, on bearish divergence condition in 4H MACD, and turn bias to the downside for deeper pull back.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3521; (P) 1.3543; (R1) 1.3573; More….

USD/CAD’s rally resumed after brief consolidations and intraday bias is back on the upside for 1.3653 resistance first. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high. On the downside, break of 1.3495 support is needed to indicate short term topping. Otherwise, outlook will remain cautiously bullish in case of retreat.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3521; (P) 1.3543; (R1) 1.3573; More….

Intraday bias in USD/CAD stays neutral as consolidation from 1.3574 is extending. Downside of retreat should be contained by 0.3371 to bring another rally. Break of 1.3574 will target 1.3653 resistance first. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3504; (P) 1.3538; (R1) 1.3581; More….

Intraday bias in USD/CAD is turned neutral again as consolidation from 1.3574 is going to extend for a while. But downside of retreat should be contained by 0.3371 to bring another rally. Break of 1.3574 will target 1.3653 resistance first. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3527; (P) 1.3551; (R1) 1.3577; More….

Intraday bias in USD/CAD stays on the upside despite loss of upside momentum. Current rally would target 1.3653 resistance first. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high. On the downside, below 1.3495 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

USD/CAD’s rally from 1.3091 continued last week and hit as high as 1.3574. Initial bias stays on the upside this week for retesting 1.3653 resistance. Decisive break there will confirm that correction from 1.3976 has completed, a target a test on this high. On the downside, below 1.3495 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

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 1.3044) holds.

Daily Pivots: (S1) 1.3510; (P) 1.3533; (R1) 1.3568; More….

USD/CAD’s rally is still in progress and intraday bias stays on the upside. As noted before, corrective fall from 1.3976 should have completed with three waves down to 1.3091. Further rise would be seen to retest 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high. For now, further rally is expected as long as 1.3371 support holds, in case of retreat.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3490; (P) 1.3518; (R1) 1.3559; More….

Intraday bias in USD/CAD stays on the upside for the moment. As noted before, corrective fall from 1.3976 should have completed with three waves down to 1.3091. Further rally would be seen to retest 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high. For now, further rally is expected as long as 1.3371 support holds, in case of retreat.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3459; (P) 1.3480; (R1) 1.3521; More….

Intraday bias in USD/CAD is back on the upside with break of 1.3501 resistance. Intraday bias is back on the upside. As noted before, corrective fall from 1.3976 should have completed with three waves down to 1.3091. Further rally would be seen to retest 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high. For now, further rally is expected as long as 1.3371 support holds, in case of retreat.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3439; (P) 1.3459; (R1) 1.3482; More….

USD/CAD is still bounded in consolidation below 1.3501 and intraday bias stays neutral. Outlook is unchanged that corrective fall from 1.3976 should have completed with three waves down to 1.3091. Above 1.3501 will resume the rebound from 1.3091 to 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3417; (P) 1.3441; (R1) 1.3470; More….

Intraday bias in USD/CAD remains neutral and further rally is expected with 1.3318 support intact. Corrective fall from 1.3976 should have completed with three waves down to 1.3091. Above 1.3501 will resume the rebound from 1.3091 to 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

USD/CAD’s strong break of 1.3386 resistance last week affirms the case that correction from 1.3976 has completed with three waves down to 1.3091. But as a temporary top was formed, initial bias remains neutral for consolidations first. Downside of retreat should be contained by 1.3318 to bring rebound. Break of 1.3501 will resume the rise from 1.3091 to 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

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 1.3044) holds.

Daily Pivots: (S1) 1.3396; (P) 1.3424; (R1) 1.3475; More….

Intraday bias in USD/CAD remains neutral for the moment. Further rally is expected as long as 1.3318 support holds. Current development argues that correction from 1.3976 has completed with three waves down to 1.3091. Above 1.3501 will resume the rise from 1.3091 to 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3400; (P) 1.3427; (R1) 1.3450; More….

Intraday bias in USD/CAD is turned neutral for some consolidations below 1.3501 temporary top. But further rally is expected as long as 1.3318 support holds. Current development argues that correction from 1.3976 has completed with three waves down to 1.3091. Above 1.3501 will resume the rise from 1.3091 to 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3353; (P) 1.3428; (R1) 1.3491; More….

Intraday bias in USD/CAD remains on the upside at this point. Current development argues that correction from 1.3976 has completed with three waves down to 1.3091. Further rally would be seen to 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high. On the downside, though, below 1.3318 minor support will mix up the outlook and turn intraday bias neutral again first.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3350; (P) 1.3374; (R1) 1.3393; More….

Intraday bias in USD/CAD on the upside with break of 1.3386 resistance. Current development argues that correction from 1.3976 has completed with three waves down to 1.3091. Further rally would then be seen to 1.3653 resistance next. Break there will further confirm this case and target 1.3976 high. On the downside, though, below 1.3318 minor support will mix up the outlook and turn intraday bias neutral again first.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.

Daily Pivots: (S1) 1.3336; (P) 1.3365; (R1) 1.3410; More….

Immediate focus stays on 1.3386 resistance in USD/CAD. Sustained break of 1.3386 will argue that whole correction from 1.3976 has completed with three waves down to 1.3091. Further rally would then be seen to 1.3653 resistance next. Nevertheless, rejection by 1.3386, followed by break of 1.3260 minor support, should resume larger decline through 1.3091 low.

In the bigger picture, price actions from 1.3976 are viewed as a corrective fall only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976 towards 1.4667/89 long term resistance zone. In case of another fall, downside should be contained by 61.8% retracement of 1.2005 to 1.3976 at 1.2758.