Daily Pivots: (S1) 1.3814; (P) 1.3839; (R1) 1.3861; More…

Rise from 1.3418 is still in progress in USD/CAD despite loss of upside moment as seen in 4H MACD. Next target is 1.3946/76 key resistance zone. Strong resistance might be seen there to limit upside. However, break of 1.3746 support will confirm short term topping, and turn bias back to the downside.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3805; (P) 1.3825; (R1) 1.3835; More…

USD/CAD’s from 1.3418 is extending in early US session. Intraday bias stays on the upside for retest of 1.3946/76 key resistance zone. Strong resistance might be seen there to limit upside. However, break of 1.3746 support is needed to confirm short term topping. Otherwise, further rise will remain in favor in case of retreat.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3805; (P) 1.3825; (R1) 1.3835; More…

Further rally is expected in USD/CAD with 1.3746 support intact, despite loss of momentum as seen in 4H MACD. Current rise from 1.3418 should target 1.3946/76 key resistance zone. However, break of 1.3746 will indicate short term topping, and turn bias back to the downside for deeper pullback.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3805; (P) 1.3827; (R1) 1.3855; More…

Intraday bias in USD/CAD Is back on the upside with breach of 1.3837 temporary top. Rise from 1.3418 is resuming and should target 1.3946/76 key resistance zone. For now, further rally is expected as long as 1.3746 support holds, in case of retreat.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3787; (P) 1.3801; (R1) 1.3816; More…

USD/CAD is extending the consolidation pattern from 1.3837 and intraday bias stays neutral. Another retreat cannot be ruled out, but downside should be contained above 1.3646 resistance turned support. On the upside, break of 1.3837 will resume the rally from 1.3418 and target 1.3946/76 key resistance zone.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

USD/CAD’s rally from 1.3418 continued last week but turned sideway after hitting 1.3837. Initial bias remains neutral this week for consolidations first. Downside of retreat should be contained above 1.3646 resistance turned support. On the upside, break of 1.3837 will target 1.3946/76 key resistance zone.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern, 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 long as 1.2947 resistance turned support holds.

Daily Pivots: (S1) 1.3761; (P) 1.3781; (R1) 1.3815; More…

USD/CAD is staying in consolidation below 1.3837 and intraday bias remains neutral. Deep retreat could be seen, but downside should be contained above 1.3646 resistance turned support. On the upside, above 1.3837 will resume the rally from 1.3418 to 1.3946/76 key resistance zone.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3736; (P) 1.3764; (R1) 1.3779; More…

Intraday bias in USD/CAD stays neutral for consolidation below 1.3837 temporary top. Downside of retreat should be contained above 1.3646 resistance turned support. On the upside, above 1.3837 will resume the rally from 1.3418 to 1.3946/76 key resistance zone.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3750; (P) 1.3795; (R1) 1.3819; More…

Intraday bias in USD/CAD is turned neutral first with current retreat. Some consolidations would be seen below 1.3837 temporary top. But downside should be contained above 1.3646 resistance turned support. On the upside, above 1.3837 will resume the rally from 1.3418 to 1.3946/76 key resistance zone.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3768; (P) 1.3786; (R1) 1.3816; More…

Intraday bias in USD/CAD remains on the upside as rise from 1.3418 is in progress. Next target is a test on 1.3946/76 key resistance zone. On the downside, 1.3769 minor support will turn intraday bias neutral first. But further rally will be expected as long as 1.3646 resistance turned support holds, in case of retreat.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3768; (P) 1.3786; (R1) 1.3816; More…

USD/CAD’s rally from 1.3418 is in progress and intraday bias remains on the upside, As noted before, corrective fall from 1.3946 should have completed at 1.3418 already. Further rally should be seen towards this resistance. On the downside, below 1.3724 minor support will turn intraday bias neutral first.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3731; (P) 1.3758; (R1) 1.3790; More…

Intraday bias in USD/CAD stays mildly on the upside despite some loss of momentum. As noted before, corrective fall from 1.3946 should have completed at 1.3418 already. Further rally should be seen towards this resistance. On the downside, below 1.3702 minor support will turn intraday bias neutral first.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

USD/CAD’s strong rally last week suggest that corrective fall from 1.3946 has completed at 1.3418 already. Initial bias remains on the upside this week. Sustained break of 61.8% retracement of 1.3946 to 1.3418 at 1.3744 will pave the way to retest 1.3946. On the downside, below 1.3702 minor support will turn intraday bias neutral first.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern, 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 long as 1.2947 resistance turned support holds.

Daily Pivots: (S1) 1.3695; (P) 1.3735; (R1) 1.3782; More…

Outlook in USD/CAD is unchanged and intraday bias stays on the upside for the moment. Sustained trading above 61.8% retracement of 1.3946 to 1.3418 at 1.3559 will extend the rise from 1.3418 to 1.3946 high again. On the downside, below 1.3702 minor support will turn intraday bias neutral first.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3695; (P) 1.3735; (R1) 1.3782; More…

Intraday bias in USD/CAD remains on the upside as rise from 1.3418 is in progress. Sustained trading above 61.8% retracement of 1.3946 to 1.3418 at 1.3559 will target 1.3946 high again. On the downside, below 1.3702 minor support will turn intraday bias neutral first.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3663; (P) 1.3691; (R1) 1.3739; More…

USD/CAD’s rally from 1.3418 continues today and intraday bias stays on the upside. Pullback from 1.3946 should have completed at 1.3418 already. Rise from there would target 61.8% retracement of 1.3946 to 1.3418 at 1.3559. Decisive break there will target 1.3946 again. On the downside, below 1.3642 minor support will turn intraday bias neutral first.

In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3614; (P) 1.3644; (R1) 1.3678; More…

Intraday bias in USD/CAD remains on the upside as rebound from 1.3418 short term bottom is in progress. Fall from 1.3946 has likely completed already. Further rise should be seen to 61.8% retracement of 1.3946 to 1.3418 at 1.3559 next. Decisive break there will target 1.3946 high. On the downside, below 1.3590 minor support will turn intraday bias neutral first.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3577; (P) 1.3609; (R1) 1.3653; More…

USD/CAD’s rebound from 1.3418 is still in progress and intraday bias stays on the upside. Decisive break of 38.2% retracement of 1.3946 to 1.3418 at 1.3505 will target 61.8% retracement at 1.3559 next. On the downside, below 1.3566 minor support will turn intraday bias neutral first.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3538; (P) 1.3565; (R1) 1.3602; More…

Intraday bias in USD/CAD remains mildly on the upside for the moment. Rebound from 1.3148 is in progress for 38.2% retracement of 1.3946 to 1.3418 at 1.3505. Decisive break there will target 61.8% retracement at 1.3559 next. On the downside, however, break of 1.3516 minor support will turn bias to the downside, to resume the fall from 1.3946 through 1.3418.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

USD/CAD’s rebound from 1.3418 extended higher last week. Initial bias stays on the upside this week for 38.2% retracement of 1.3946 to 1.3418 at 1.3505. Decisive break there will target 61.8% retracement at 1.3559 next. On the downside, however, break of 1.3471 will turn bias to the downside, to resume the fall from 1.3946 through 1.3418.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern, 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 long as 1.2947 resistance turned support holds.