USD/CAD’s rebound from 1.3315 resumed by breaking 1.3868 last week. Initial bias stays on the upside this week for 38.2% retracement of 1.4667 to 1.3315 at 1.3831. Sustained break there will argue that whole fall from 1.4667 has completed. Further rise should be seen to 61.8% retracement at 1.4151 and above. For now, further rise will remain in favor as long as 1.3485 support intact, in case of retreat.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

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) 1.3610; (P) 1.3640; (R1) 1.3672; More….

Intraday bias in USD/CAD stays neutral as range trading continues. Rebound from 1.3315 short term bottom is likely not over. On the upside, break of 1.3686 will turn bias to the upside for 38.2% retracement of 1.4667 to 1.3315 at 1.3831 next. However, break of 1.3485 minor support will turn bias back to the downside for retesting 1.3315 low.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3561; (P) 1.3601; (R1) 1.3673; More….

Intraday bias in USD/CAD remains neutral for the moment. Current strong rebound reaffirms near term bullishness that rebound from 1.3315 short term bottom is not over. On the upside, break of 1.3686 will turn bias to the upside for 38.2% retracement of 1.4667 to 1.3315 at 1.3831 next. However, break of 1.3485 minor support will turn bias back to the downside for retesting 1.3315 low. Decisive break of 1.3315 will resume whole decline from 1.4667.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3502; (P) 1.3537; (R1) 1.3587; More….

USD/CAD dipped to 1.3485 but quickly recovered. Intraday bias remains neutral first. On the upside, break of 1.3686 will resume the rebound from 1.3315 short term bottom. Intraday bias will be turned back to the upside for 38.2% retracement of 1.4667 to 1.3315 at 1.3831. However, break of 1.3465 minor support will turn bias back to the downside for retesting 1.3315 low. Decisive break of 1.3315 will resume whole decline from 1.4667.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3485; (P) 1.3558; (R1) 1.3596; More….

Intraday bias in USD/CAD stays neutral first. With 1.3504 minor support intact, rebound from 1.3315 is still in favor to extend higher. On the upside, break of 1.3686 temporary top will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. However, break of 1.3504 minor support will turn bias back to the downside for retesting 1.3315 low. Decisive break of 1.3315 will resume whole decline from 1.4667.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3563; (P) 1.3590; (R1) 1.3632; More….

Intraday bias in USD/CAD remains neutral at his point. We’d still expect rebound from 1.3315 to extend higher. On the upside, break of 1.3686 temporary top will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. However, break of 1.3504 minor support will turn bias back to the downside for retesting 1.3315 low. Decisive break of 1.3315 will resume whole decline from 1.4667.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3563; (P) 1.3590; (R1) 1.3632; More….

Intraday bias in USD/CAD remains neutral for the moment. We’d still expect rebound from 1.3315 to extend higher. On the upside, break of 1.3686 temporary top will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. Though, decisive break of 1.3315 will resume whole decline from 1.4667.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

USD/CAD edged higher to 1.3686 last week but turned sideway since then. Initial bias remains neutral this week first. For now, risk will remain on the upside as long as 1.3315 support holds and another rally is in favor. On the upside, break of 1.3686 will extend the rebound to 38.2% retracement of 1.4667 to 1.3315 at 1.3831.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

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) 1.3541; (P) 1.3579; (R1) 1.3635; More….

USD/CAD is staying in range trading below 1.3686 and intraday bias remains neutral first. On the downside, break of 1.3315 is needed to confirm resumption of fall from 1.4667. Otherwise, risk will stay mildly on the upside in case of retreat. On the upside, break of 1.3686 will extend the rebound to 38.2% retracement of 1.4667 to 1.3315 at 1.3831.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3520; (P) 1.3557; (R1) 1.3602; More….

Intraday bias stays neutral at this point. On the downside, break of 1.3315 is now needed to confirm resumption of fall from 1.4667. Otherwise, risk will stay mildly on the upside in case of retreat. On the upside, break of 1.3686 will extend the rebound to 38.2% retracement of 1.4667 to 1.3315 at 1.3831.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3492; (P) 1.3557; (R1) 1.3610; More….

Intraday bias in USD/CAD stays neutral for the moment. On the downside, break of 1.3315 is now needed to confirm resumption of fall from 1.4667. Otherwise, risk will stay mildly on the upside in case of retreat. On the upside, break of 1.3686 will extend the rebound to 38.2% retracement of 1.4667 to 1.3315 at 1.3831.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3516; (P) 1.3601; (R1) 1.3655; More….

Intraday bias in USD/CAD is turned neutral with the retreat from 1.3868. On the downside, break of 1.3315 is now needed to confirm resumption of fall from 1.4667. Otherwise, risk will stay mildly on the upside in case of retreat. On the upside, break of 1.3686 will extend the rebound to 38.2% retracement of 1.4667 to 1.3315 at 1.3831.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3519; (P) 1.3593; (R1) 1.3658; More….

Intraday bias in USD/CAD remains mildly on the upside at this point. Rebound from 1.3315 short term bottom would target 38.2% retracement of 1.4667 to 1.3315 at 1.3831 first. Firm break there will target 61.8% retracement at 1.4151. On the downside, break of 1.3315 is now needed to confirm resumption of fall from 1.4667. Otherwise, risk will stay mildly on the upside in case of retreat.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

USD/CAD edged lower to 1.3315 last week but rebounded strongly from there. A short term bottom should be formed and initial bias is mildly on the upside this week. Current rebound would target 38.2% retracement of 1.4667 to 1.3315 at 1.3831 first. Firm break there will target 61.8% retracement at 1.4151. On the downside, break of 1.3315 is now needed to confirm resumption of fall from 1.4667. Otherwise, risk will stay mildly on the upside in case of retreat.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

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) 1.3473; (P) 1.3552; (R1) 1.3706; More….

USD/CAD’s break of 1.3572 resistance indicates short term bottoming at 1.3315. Intraday bias is flipped back to the upside for 38.2% retracement of 1.4667 to 1.3315 at 1.3831 first. Firm break there will target 61.8% retracement at 1.4151. On the downside, break of 1.3315 is now needed to confirm resumption of fall from 1.4667. Otherwise, risk will stay mildly on the upside in case of retreat.

In the bigger picture, the strong break of 1.3664 resistance turned support, as well as the 55 week EMA (now at 1.3495), suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667 (after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3338; (P) 1.3388; (R1) 1.3460; More….

USD/CAD dropped further to 1.3315 but quickly recovered. Intraday bias remains neutral first. Another fall is expected as long as 1.3572 minor resistance holds. Break of 1.3315 will extend the decline from 1.4667 to 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. However, firm break of 1.3572 will indicate short term bottoming. Stronger rebound would then be seen back to 1.3866 support turned resistance.

In the bigger picture, the strong break of 1.3664 resistance turned support, as well as the 55 week EMA (now at 1.3495), suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667 (after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3353; (P) 1.3421; (R1) 1.3481; More….

Intraday bias in USD/CAD remains neutral for consolidation above 1.3356 temporary low. Another fall will remain in favor as long as 1.3572 minor resistance holds. On the downside, break of 1.3356 will extend the decline from 1.4667 to 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. However, firm break of 1.3572 will indicate short term bottoming. Stronger rebound would then be seen back to 1.3866 support turned resistance.

In the bigger picture, the strong break of 1.3664 resistance turned support, as well as the 55 week EMA (now at 1.3495), suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667 (after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3346; (P) 1.3392; (R1) 1.3426; More….

A temporary low should be formed at 1.3356 in USD/CAD with today’s recovery. Intraday bias is turned neutral first. Another fall will remain in favor as long as 1.3572 minor resistance holds. On the downside, break of 1.3356 will extend the decline from 1.4667 to 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. However, firm break of 1.3572 will indicate short term bottoming. Stronger rebound would then be seen back to 1.3866 support turned resistance.

In the bigger picture, the strong break of 1.3664 resistance turned support, as well as the 55 week EMA (now at 1.3495), suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667 (after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

Daily Pivots: (S1) 1.3374; (P) 1.3444; (R1) 1.3495; More….

Intraday bias in USD/CAD remains on the downside at this point. Current fall from 1.4667 is in progress for 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. On the upside, break of 1.3572 minor resistance will turn intraday bias neutral and bring recovery first.

In the bigger picture, the strong break of 1.3664 resistance turned support, as well as the 55 week EMA (now at 1.3495), suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667 (after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

USD/CAD’s decline accelerated to as low as 1.3391 last week, without sign of bottoming. Initial bias remains on the downside this week for 100% projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. On the upside, break of 1.3572 minor resistance will turn intraday bias neutral and bring recovery first.

In the bigger picture, the strong break of 1.3664 resistance turned support, as well as the 55 week EMA (now at 1.3495), suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667 (after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.

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.