Daily Pivots: (S1) 1.2937; (P) 1.2999; (R1) 1.3069; More….

Intraday bias in USD/CAD is turned neutral with a temporary low formed at 1.2928. Further fall will remain in favor as long as 1.3097 minor resistance holds. Break of 1.2928 will extend larger decline to 61.8% projection of 1.4667 to 1.2994 from 1.3389 at 1.2355. On the upside, however, firm break of 1.3097 will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.3022; (P) 1.3059; (R1) 1.3099; More….

USD/CAD’s decline re-accelerates to as low as 1.2928 so far today. The strong break of 1.2994 low confirms down trend resumption. Intraday bias stays on the downside for 61.8% projection of 1.4667 to 1.2994 from 1.3389 at 1.2355. On the upside, above 1.3030 minor resistance will turn bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.3022; (P) 1.3059; (R1) 1.3099; More….

Intraday bias in USD/CAD remains on the downside for retesting 1.2994 low. Decisive break there will resume larger down trend form 1.4667. Next near term target is 61.8% projection of 1.4667 to 1.2994 from 1.3389 at 1.2355. On the upside, above 1.3097 minor resistance will mix up the near term outlook and turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

USD/CAD’s sharp fall last week and break of 1.3081 support argues that consolidation pattern from 1.2994 might have completed at 1.3389 already. Initial bias stays on the downside this week for retesting 1.2994 first. Firm break there will resume larger down trend from 1.4667. On the upside, however, break of 1.3178 resistance will mix up the near term outlook again and turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

In the longer term picture, the bullish case of resuming the up trend from 0.9506 (2007 low) is delayed. Consolidation from 1.4689 is extending for another medium term fall. As long as 1.2061 support holds, such up trend should still resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.2994; (P) 1.3086; (R1) 1.3144; More….

USD/CAD’s break of 1.3081 resistance argues that consolidation from 1.2994 has possibly completed already. Intraday bias is turned back to the downside for 1.2994 low first. Decisive break there will resume larger down trend from 1.4667. On the upside, however, break of 1.3178 resistance will mix up the near term outlook again and turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3053; (P) 1.3177; (R1) 1.3257; More….

Intraday bias in USD/CAD remains neutral at this point. On the downside, break of 1.3081 support will target a test on 1.2994 low. Break there will resume larger down trend form 1.4667. On the upside, break of 1.3389 will likely resume the corrective pattern from 1.2994 with another rise through 1.3418 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3172; (P) 1.3271; (R1) 1.3321; More….

USD/CAD rebounded strong just head of 1.3081 support and intraday bias is turned neutral first. On the upside, break of 1.3389 will likely resume the corrective pattern from 1.2994 with another rise through 1.3418 resistance. On the downside, break of 1.3081 will bring retest of 1.2994 low.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3172; (P) 1.3271; (R1) 1.3321; More….

USD/CAD’s sharp fall and break of 1.3225 support suggests that rebound from 1.3081 has completed at 1.3389, ahead rejection by 1.3418 resistance. Intraday bias is now mildly on the downside for 1.3081 support. Break will bring retest of 1.2994 low. On the upside, break of 1.3389 will likely resume the corrective pattern from 1.2994 with another rise through 1.3418 resistance.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3288; (P) 1.3318; (R1) 1.3356; More….

Intraday bias in USD/CAD remains neutral first but further rise is expected with 1.3225 support intact. Rebound from 1.2994 is likely resuming. Break of 1.3389 should turn bias to the upside, through 1.3418 resistance, to 100% projection of 1.2994 to 1.3418 from 1.3081 at 1.3505. On the downside, though, break of 1.3225 minor support will mix up the near term outlook again, and turn bias to the downside for 1.3081 support.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

USD/CAD’s strong rally last week suggests that pull back from 1.3418 has completed at 1.3081. Rebound from 1.2994 is possibly resuming. As a temporary top was formed at 1.3389, initial bias is neutral this week first. On the upside, break of 1.3389 will turn bias back to the upside for 1.3418 and then 100% projection of 1.2994 to 1.3418 from 1.3081 at 1.3505. On the downside, though, break of 1.3225 minor support will mix up the near term outlook again, and turn bias to the downside for 1.3081 support.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

In the longer term picture, the bullish case of resuming the up trend from 0.9506 (2007 low) is delayed. Consolidation from 1.4689 is extending for another medium term fall. As long as 1.2061 support holds, such up trend should still resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3274; (P) 1.3332; (R1) 1.3386; More….

Intraday bias in USD/CAD stays on the upside at this point and outlook is unchanged. The corrective rebound from 1.2994 is still in progress. Break of 1.3418 will confirm this case and target 100% projection of 1.2994 to 1.3418 from 1.3081 at 1.3505. On the downside, though, break of 1.3225 minor support will mix up the near term outlook again, and turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3224; (P) 1.3279; (R1) 1.3378; More….

Intraday bias in USD/CAD remains on the upside for 1.3418 resistance first. The corrective rebound from 1.2994 is still in progress. Break of 1.3418 will confirm this case and target 100% projection of 1.2994 to 1.3418 from 1.3081 at 1.3505. On the downside, though, break of 1.3225 minor support will mix up the near term outlook again, and turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3149; (P) 1.3180; (R1) 1.3218; More….

USD/CAD’s strong break of 1.3259 resistance suggests that choppy fall from 1.3418 has completed at 1.3081. More importantly, corrective rebound from 1.2994 is still in progress, and starting the third leg. Intraday bias is back on the upside for retesting 1.3418 resistance first. Break will confirm this case and target 100% projection of 1.2994 to 1.3418 from 1.3081 at 1.3505. On the downside, break of 1.3179 minor support will mix up the near term outlook again, and turn intraday bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3149; (P) 1.3180; (R1) 1.3218; More….

Intraday bias in USD/CAD remains neutral as consolidation from 1.3081 temporary low is extending. On the downside, break of 1.3081 will target a test on 1.2994 low. Break will resume the larger fall from 1.4667. However, break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3151; (P) 1.3188; (R1) 1.3250; More….

USD/CAD is staying below 1.3259 resistance despite recovering from 1.3081. Intraday bias remains neutral for the moment. On the downside, break of 1.3081 will target a test on 1.2994 low. Break will resume the larger fall from 1.4667. However, break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3103; (P) 1.3132; (R1) 1.3153; More….

USD/CAD’s recovery from 1.3081 extends higher today but stays below 1.3259 resistance. Intraday bias remains neutral first. On the downside, break of 1.3081 will target a test on 1.2994 low. Break will resume the larger fall from 1.4667. However, break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3103; (P) 1.3132; (R1) 1.3153; More….

Intraday bias in USD/CAD remains neutral first and further fall is in favor with 1.3259 resistance intact. On the downside, break of 1.3081 will target a test on 1.2994 low. Break will resume the larger fall from 1.4667. However, break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

USD/CAD’s decline from 1.3418 resumed last week and edged lower to 1.3081. But it then lost downside momentum and turned sideway. Initial bias remains neutral this week first and further fall is mildly in favor with 1.3259 resistance intact. On the downside, break of 1.3081 will target a test on 1.2994 low. Break will resume the larger fall from 1.4667. However, break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

In the longer term picture, the bullish case of resuming the up trend from 0.9506 (2007 low) is delayed. Consolidation from 1.4689 is extending for another medium term fall. As long as 1.2061 support holds, such up trend should still resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3114; (P) 1.3145; (R1) 1.3167; More….

Intraday bias in USD/CAD stays neutral at this point. Further decline is expected as long as 1.3259 resistance holds. Below 1.3081 will target 1.2994 low first. Break will resume the larger fall from 1.4667. However, break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.

Daily Pivots: (S1) 1.3101; (P) 1.3126; (R1) 1.3172; More….

Intraday bias in USD/CAD is turned neutral with a temporary low formed at 1.3081. Further decline is expected as long as 1.3259 resistance holds. Below 1.3081 will target 1.2994 low first. Break will resume the larger fall from 1.4667. However, break of 1.3259 resistance will extend the consolidation pattern from 1.2994 with another rising leg. Intraday bias will be turned back to the upside for 1.3418 instead.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3715 resistance will argue that this falling leg has completed and turn focus back to 1.4667/89 resistance zone.