Daily Pivots: (S1) 1.3439; (P) 1.3466; (R1) 1.3511; More…

A temporary low is formed at 1.3418 with current recovery, and intraday bias in USD/CAD is turned neutral first. Some consolidations would be seen first, but outlook will stay bearish as long as 1.3646 resistance holds. Below 1.3418 will resume the decline from 1.3946 to 61.8% projection of 1.3946 to 1.3439 from 1.3646 at 1.3333.

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) 1.3389; (P) 1.3473; (R1) 1.3515; More…

USD/CAD’s break of 1.3439 support confirms resumption of whole fall from 1.3946. Intraday bias remains on the downside for 61.8% projection of 1.3946 to 1.3439 from 1.3646 at 1.3333. On the upside, above 1.3486 minor resistance will turn intraday bias neutral for consolidations. But outlook will remain bearish as long as 1.3646 resistance holds, in case of recovery.

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) 1.3493; (P) 1.3538; (R1) 1.3588; More…

Intraday bias in USD/CAD stays on the downside for retesting 1.3439 low. Firm break there will resume the decline from 1.3946, and target 61.8% projection of 1.3946 to 1.3439 from 1.3646 at 1.3333. On the upside, above 1.3540 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.3646 resistance holds, in case of recovery.

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) 1.3493; (P) 1.3538; (R1) 1.3588; More…

USD/CAD’s break of 1.3532 support suggests that corrective recovery from 1.3439 has completed at 1.3646 already, after rejection by falling 55 D EMA. Intraday bias is back on the downside for retesting 1.3439 low first. Firm break there will resume the decline from 1.3946, and target 61.8% projection of 1.3946 to 1.3439 from 1.3646 at 1.3333. For now, risk will stay on the downside as long as 1.3646 resistance holds, in case of recovery.

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) 1.3545; (P) 1.3567; (R1) 1.3593; More…

Intraday bias in USD/CAD remains neutral as range trading continues. On the downside, break of 1.3532 will argue that corrective recovery from 1.3439 has already completed, and bring retest of this low. Nevertheless, firm break of 1.3646 will bring stronger rebound to 61.8% retracement of 1.3946 to 1.3439 at 1.3752 and above.

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 edged higher to 1.3646 last week but failed to sustain above 38.2% retracement of 1.3946 to 1.3439 at 1.3633. Yet, subsequent retreat was contained at 1.3532. Initial bias remains neutral this week first. On the downside, break of 1.3532 will argue that corrective recovery from 1.3439 has already completed, and bring retest of this low. Nevertheless, firm break of 1.3646 will bring stronger rebound to 61.8% retracement at 1.3752 and above.

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.

Daily Pivots: (S1) 1.3511; (P) 1.3580; (R1) 1.3626; More…

Intraday bias in USD/CAD remains neutral at this point. On the downside, firm break of 1.3545 minor support will suggest that recovery from 1.3439 has completed, and turn bias to the downside for retesting this low. Nevertheless, sustained break of 38.2% retracement of 1.3946 to 1.3439 at 1.3633 would argue that the decline from 1.3946 has completed. Stronger rally would then be seen to 61.8% retracement at 1.3752 and above.

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) 1.3557; (P) 1.3590; (R1) 1.3639; More…

Intraday bias in USD/CAD remains neutral for the moment. On the downside, break of 1.3545 minor support will suggest that recovery from 1.3439 has completed, and turn bias to the downside for retesting this low. Nevertheless, decisive break of 38.2% retracement of 1.3946 to 1.3439 at 1.3633 would argue that the decline from 1.3946 has completed. Stronger rally would then be seen to 61.8% retracement at 1.3752 and above.

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) 1.3580; (P) 1.3598; (R1) 1.3617; More…

USD/CAD is still extending sideway trading and intraday bias remains neutral. On the downside, below 1.3545 minor support will suggest that recovery from 1.3439 has completed, turn bias to the downside for retesting this low. Nevertheless, decisive break of 38.2% retracement of 1.3946 to 1.3439 at 1.3633 would argue that the decline from 1.3946 has completed. Stronger rally would then be seen to 61.8% retracement at 1.3752 and above.

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) 1.3567; (P) 1.3587; (R1) 1.3607; More…

Intraday bias in USD/CAD remains neutral as sideway trading continues. On the downside, below 1.3545 minor support will suggest that recovery from 1.3439 has completed, turn bias to the downside for retesting this low. Nevertheless, decisive break of 38.2% retracement of 1.3946 to 1.3439 at 1.3633 would argue that the decline from 1.3946 has completed. Stronger rally would then be seen to 61.8% retracement at 1.3752 and above.

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) 1.3567; (P) 1.3584; (R1) 1.3602; More…

Intraday bias in USD/CAD remains neutral at this point, and another fall remains in favor. On the downside, below 1.3545 minor support will turn bias to the downside for retesting 1.3439 low. Nevertheless, sustained break of 1.3617 will turn bias back to the upside for stronger rebound instead.

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 1.3439 continued last week but failed to break through 1.3617 resistance decisively. Initial bias stays neutral this week first and another fall remains in favor. On the downside, below 1.3545 minor support will turn bias to the downside for retesting 1.3439 low. Nevertheless, sustained break of 1.3617 will turn bias back to the upside for stronger rebound instead.

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.

Daily Pivots: (S1) 1.3562; (P) 1.3584; (R1) 1.3602; More…

Intraday bias in USD/CAD remains neutral first and further decline is in favor. On the downside, below 1.3545 minor support will bring retest of 1.3439 low first. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that 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) 1.3554; (P) 1.3589; (R1) 1.3610; More…

USD/CAD failed to break through 1.3617 resistance decisively so far. Intraday bias remains neutral and further decline remains in favor. On the downside, below 1.3545 minor support will bring retest of 1.3439 low first. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that 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) 1.3570; (P) 1.3593; (R1) 1.3633; More…

USD/CAD’s recovery is still limited by 1.3617 resistance and intraday bias remains neutral. Further decline will remain in favor as long as 1.3617 resistance holds. On the downside, below 1.3545 minor support will bring retest of 1.3439 low first. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that 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) 1.3544; (P) 1.3561; (R1) 1.3575; More…

USD/CAD is extending consolidation form 1.3439 and intraday bias remains neutral. While stronger recovery cannot be ruled out, further decline will remain in favor as long as 1.3617 resistance holds. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that 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) 1.3492; (P) 1.3509; (R1) 1.3519; More…

Intraday bias in USD/CAD remains neutral as consolidation from 1.3439 is extending. Further decline will remain in favor as long as 1.3617 resistance holds. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that 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 1.3439 extended higher last week but upside is limited below 1.3617 resistance so far. Initial bias remains neutral this week and further decline remain in favor. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that 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.

Daily Pivots: (S1) 1.3492; (P) 1.3509; (R1) 1.3519; More…

USD/CAD is still bounded in consolidation above 1.3439 and intraday bias remains neutral. With 1.3618 resistance intact, further decline is expected. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests that 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) 1.3481; (P) 1.3523; (R1) 1.3546; More…

Intraday bias in USD/CAD remains neutral as consolidation continues above 1.3439. Further decline is expected with 1.3617 resistance intact. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests that 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.