Daily Pivots: (S1) 1.3056; (P) 1.3076; (R1) 1.3114; More….

Intraday bias in USD/CAD remains neutral at this point. Above 1.3172 will extend the rebound from 1.2928. But near term outlook will remain bearish as long as 1.3389 resistance holds. On the downside, break of 1.3034 minor support will bring retest of 1.2928 temporary low.

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.

Outlook in USD/CAD remains unchanged after last week’s price actions. Down trend from 1.4667 has recently resumed and is expected with another fall through 1.2928 sooner or later. While stronger rebound might be seen, outlook will stay bearish as long as 1.3389 resistance holds. On the downside, break of 1.3034 minor support will bring retest of 1.2928 temporary low.

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.

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) 1.3040; (P) 1.3081; (R1) 1.3110; More….

Intraday bias in USD/CAD stays neutral at this point. With 1.3034 minor support intact, another rise cannot be ruled out. However, near term outlook remains bearish as long as 1.3389 resistance holds, and down trend resumption is expected. On the downside, break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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) 1.3040; (P) 1.3081; (R1) 1.3110; More….

Intraday bias in USD/CAD remains neutral first. Even in case of another rise, near term outlook remains bearish as long as 1.3389 resistance holds, and down trend resumption is expected. On the downside, break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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) 1.3039; (P) 1.3078; (R1) 1.3123; More….

Despite a dip to 1.3034, USD/CAD quickly recovered and intraday bias remains neutral. Another rise could be seen to 55 day EMA (now at 1.3194) and above. Still, near term outlook remains bearish as long as 1.3389 resistance holds, and down trend resumption is expected. On the downside, break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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) 1.3039; (P) 1.3078; (R1) 1.3123; More….

Despite a dip to 1.3034, USD/CAD quickly recovered and intraday bias remains neural. Another rise could be seen to 55 day EMA (now at 1.3194) and above. Still, near term outlook remains bearish as long as 1.3389 resistance holds, and down trend resumption is expected. On the downside, break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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) 1.3071; (P) 1.3094; (R1) 1.3123; More….

Intraday bias in USD/CAD is staying neutral for the moment. Another rise could be seen to 55 day EMA (now at 1.3194) and above. Still, near term outlook remains bearish as long as 1.3389 resistance holds, and down trend resumption is expected. On the downside, break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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) 1.3046; (P) 1.3093; (R1) 1.3121; More….

Intraday bias in USD/CAD remains neutral at this point. With 1.3057 minor support intact, another rise could still be seen to 55 day EMA (now at 1.3203) and above). But overall, larger decline form 1.467 is expected to resume sooner or later as long as 1.3389 resistance holds. On the downside, break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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) 1.3111; (P) 1.3141; (R1) 1.3167; More….

Intraday bias in USD/CAD is turned neutral with current retreat, but further rise will remain in favor as long as 1.3057 minor support holds. on the upside, break of 1.3172 temporary will will target 55 day EMA (now at 1.3203) and above. But still, as long as 1.3389 resistance intact, larger fall from 1.4667 is in favor to resume. Break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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.

USD/CAD dropped to 1.2928 last week but formed a short term bottom there and rebounded. Initial bias remains mildly on the upside for 55 day EMA (now at 1.3206) and above. But still, as long as 1.3389 resistance intact, larger fall from 1.4667 is in favor to resume. Break of 1.3057 minor support will turn bias to the downside for retesting 1.2928 low.

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.

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) 1.3084; (P) 1.3117; (R1) 1.3177; More….

USD/CAD’s rebound from 1.2928 extended higher today and the break of 1.3097 resistance suggest short term bottoming. Strong rebound would be seen to 55 day EMA (now at 1.3207). But overall outlook remains bearish as long as 1.3389 resistance holds. On the downside, break of 1.2928 will resume larger down trend from 1.4667.

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) 1.3023; (P) 1.3050; (R1) 1.3092; More….

USD/CAD’s breach of 1.3097 resistance suggests short term bottoming at 1.2928. Intraday bias is turned bias to the upside for strong rebound, towards 55 day EMA (now at 1.3207). Nevertheless, outlook will stay bearish as long as 1.3389 resistance holds. On the downside, break of 1.2928 will resume the larger down trend from 1.4667, to 61.8% projection of 1.4667 to 1.2994 from 1.3389 at 1.2355.

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) 1.2998; (P) 1.3024; (R1) 1.3063; More….

USD/CAD is staying in consolidation from 1.2928 temporary low and intraday bias remains neutral first. With 1.3097 resistance intact, further decline is expected. On the downside, 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) 1.2937; (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.