Daily Pivots: (S1) 1.2031; (P) 1.2063; (R1) 1.2098; More…

Intraday bias in USD/CAD remains neutral at this point. We’d continue to stay cautious on strong support from 1.2048/61 cluster level to bring reversal. On the upside, break of 1.2201 resistance will indicate short term bottoming and turn bias to the upside for stronger rebound. However, sustained break of 1.2048/61 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’d look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2363 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

USD/CAD gyrated around 1.2061 key support level last week and outlook is unchanged. Initial bias stays neutral this week first. We’d continue be stay cautious on support from 1.2061 long term cluster support to bring reversal. Break of 1.2201 resistance will indicate short term bottoming and turn bias to the upside for stronger rebound. However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’d look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2363 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048. However, sustained break of 1.2061 will be a sign of long term bearishness. Deeper fall would be seen to 61.8% retracement at 1.1424 and below..

Daily Pivots: (S1) 1.2024; (P) 1.2084; (R1) 1.2118; More…

Intraday bias in USD/CAD stays neutral and outlook is unchanged. On the upside, break of 1.2201 resistance will indicate short term bottoming, on strong support from 1.2061 support zone. Intraday bias will be turned back to the upside for rebound. However, break of 1.2061 support will carry larger bearish implications. Next target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’re look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2078; (P) 1.2110; (R1) 1.2166; More…

Intraday bias in USD/CAD remains neutral at this point, and outlook is unchanged. On the upside, break of 1.2201 resistance will indicate short term bottoming, on strong support from 1.2061 support zone. Intraday bias will be turned back to the upside for rebound. However, break of 1.2061 support will carry larger bearish implications. Next target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’re look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2023; (P) 1.2052; (R1) 1.2091; More…

Intraday bias in USD/CAD is turned neutral first, with 4 hour MACD crossed above signal line. On the upside, break of 1.2201 resistance will indicate short term bottoming, on strong support from 1.2061 support zone. Intraday bias will be turned back to the upside for rebound. However, break of 1.2061 support will carry larger bearish implications. Next target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’re look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2040; (P) 1.2089; (R1) 1.2116; More…

USD/CAD’s decline resumes today by breaking 1.2044 temporary low and intraday bias is back on the downside. Sustained break of 1.2061 support will carry larger bearish implications. Next target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816 first. Outlook will stay bearish as long as 1.2201 resistance holds, in case of recovery.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’re look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2065; (P) 1.2122; (R1) 1.2163; More…

Intraday bias in USD/CAD remains neutral for consolidation above 1.2044. We’d continue to stay cautious on strong support from 1.2061 long term cluster support to bring reversal. . On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for 1.2363/2653 resistance zone first. However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’re look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

USD/CAD edged lower to 1.2055 last week but quickly recovered. As upside was limited below 1.2265 resistance, initial bias remains neutral this week first. We’d continue be stay cautious on support from 1.2061 long term cluster support to bring reversal. . On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for 1.2363/2653 resistance zone first. However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). We’re look for strong support from 1.2061 (2017 low) and 50% retracement of 0.9406 to 1.4689 at 1.2048 to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048. However, sustained break of 1.2061 will be a sign of long term bearishness. Deeper fall would be seen to 61.8% retracement at 1.1424 and below.

Daily Pivots: (S1) 1.2109; (P) 1.2156; (R1) 1.2208; More…

Intraday bias in USD/CAD remains neutral for the moment. We’d continue stay cautious on strong support from 1.2061 long term cluster support to bring reversal. On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for stronger rebound. However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2075; (P) 1.2104; (R1) 1.2161; More…

USD/CAD edged lower to 1.2044 but quickly recovered. Intraday bias remains neutral first. We’d continue stay cautious on strong support from 1.2061 long term cluster support to bring reversal. On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for stronger rebound. However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2078; (P) 1.2102; (R1) 1.2125; More…

Intraday bias in USD/CAD is turned neutral with current recovery. We’d stay cautious on strong support from 1.2061 long term cluster support to bring reversal. On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for stronger rebound. However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2077; (P) 1.2106; (R1) 1.2134; More…

USD/CAD’s decline is still in progress and intraday bias stays on the downside for 1.2061 long term cluster support. We’d be cautious on strong support from there to bring reversal. On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for stronger rebound. However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2105; (P) 1.2149; (R1) 1.2173; More…

Intraday bias in USD/CAD stays on the downside for the moment. Current down trend from 1.4669 should target 1.2061 long term cluster support next. We’d be cautious on strong support from there to bring reversal. On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for stronger rebound. However, sustained break of 1.2061 will sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection of 1.2880 to 1.2363 from 1.2653 at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

USD/CAD’s down trend continued last week and met 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136 already. There is no clear sign of bottoming yet. Initial bias stays on the downside this week for 1.2061 long term cluster support next. We’d be cautious on strong support from there to bring reversal. On the upside, break of 1.2265 support turned resistance will turn bias back to the upside for stronger rebound. However, sustained break of 1.2061 will sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048. However, sustained break of 1.2061 will be a sign of long term bearishness. Deeper fall would be seen to 61.8% retracement at 1.1424 and below.

Daily Pivots: (S1) 1.2099; (P) 1.2193; (R1) 1.2245; More…

USD/CAD’s decline extends to as low as 1.2140 so far, just inch above 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136. Intraday bias stays on the downside for the moment. Next target is long term cluster support at 1.2061. We’d be cautious on strong support from there to bring reversal. On the upside, break of 1.2265 minor resistance will turn bias to the upside to for rebound back to 55 day EMA (now at 1.2510). However, sustained break of 1.2061 will carry larger bearish implications. Next near term target will be 161.8% projection at 1.1816.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound. Also, sustained break of 1.2061 will pave the way to 61.8% retracement of 0.9406 to 1.4689 at 1.1424.

Daily Pivots: (S1) 1.2239; (P) 1.2277; (R1) 1.2301; More…

USD/CAD’s down trends resumed by breaking 1.2265 temporary low and intraday bias is back on the downside. Next target is 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136. On the upside, however, break of 1.2350 minor resistance should now indicate short term bottoming. Intraday bias would then be turned back to the upside for rebound to 55 day EMA (now at 1.2524).

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2268; (P) 1.2310; (R1) 1.2344; More…

Intraday bias in USD/CAD remains neutral for the moment as consolidation continues above 1.2265 temporary low. In case of another recovery, upside should be limited by 1.2417 minor resistance to bring down trend resumption. On the downside, break of 1.2265 will target 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136 next.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2258; (P) 1.2288; (R1) 1.2309; More…

USD/CAD is staying in consolidation above 1.2265 temporary low and intraday bias remains neutral. In case of another recovery, upside should be limited well below 1.2653 resistance to bring down trend resumption. Break of 1.2265 will target 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136 next.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.2266; (P) 1.2294; (R1) 1.2323; More…

Intraday bias in USD/CAD remains neutral for consolidation above 1.2265 temporary low. Upside of recovery should be limited well below 1.2653 resistance to bring down trend resumption. Break of 1.2265 will target 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136 next.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

USD/CAD’s down trend from 1.4667 resumed last week by break through 1.2363 support, and hit as low as 1.2265. As a temporary low was formed there, initial bias is neutral this week for some consolidations first. Upside of recovery should be limited well below 1.2653 resistance to bring down trend resumption. Break of 1.2265 will target 100% projection of 1.2880 to 1.2363 from 1.2653 at 1.2136 next.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). We’d look for strong support from there to bring rebound. Nevertheless, sustained break of 1.2653 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048. However, sustained break of 1.2061 will be a sign of long term bearish. Deeper fall would be seen to 61.8% retracement at 1.1424 and below.