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Action Insight: USDCAD Technical Outlook

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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 08 16 08:36 GMT
Intraday bias in USD/CAD remains neutral for the moment. At this point, the pair is staying above 1.3456 resistance turned support and well inside the medium term rising channel. Thus, up trend is still in favor to continue. Above 1.4102 minor resistance will turn bias back to the upside for retesting 1.4689 high first.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 05 16 09:20 GMT
Intraday bias in USD/CAD remains on the downside for the moment. Currently development mildly raised the chance of medium term topping. Deeper fall would be seen to next key support zone at 1.3456, with channel support now at 1.3455. On the upside, break of 1.4102 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 04 16 03:42 GMT
USD/CAD's fall from 1.4689 resumed and accelerated to as low as 1.3719 so far. The pair now took out 1.3815 support as the decline was deeper than expected. The development now mildly raise the chance of medium term topping. Intraday bias is now on the downside for next key support zone at 1.3456, with channel support now at 1.3443. On the upside, break of 1.4102 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 03 16 03:03 GMT
Intraday bias in USD/CAD is turned neutral with a temporary low formed at 1.3907. As noted before, fall from 1.4689 is viewed as a correction and we'd expect strong support inside 1.3815/4000 zone to contain downside and bring rebound. Above 1.4325 minor resistance will turn bias back to the upside for retesting 1.4689 first. However, firm break of 1.3815 will put focus back to medium term support level at 1.3456.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 02 16 03:09 GMT
Intraday bias in USD/CAD remains mildly on the downside as the correction from 1.4689 is still in progress. At this point, we'd still expect strong support inside 1.3815/4000 zone to contain downside and bring rebound. Above 1.4325 minor resistance will turn bias back to the upside for retesting 1.4689 first. However, firm break of 1.3815 will put focus back to medium term support level at 1.3456.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Feb 01 16 03:06 GMT
The correction from 1.4689 short term top might extend lower. But at this point, we'd still expect strong support inside 1.3815/4000 zone to contain downside and bring rebound. Above 1.4325 minor resistance will turn bias back to the upside for retesting 1.4689 first. However, firm break of 1.3815 will put focus back to medium term support level at 1.3456.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jan 30 16 08:34 GMT
The correction from 1.4689 short term top continued last week and outlook is unchanged. While deeper fall could be seen initially this week, we'd still expect strong support inside 1.3815/4000 zone to contain downside and bring rebound. Above 1.4325 minor resistance will turn bias back to the upside for retesting 1.4689 first. However, firm break of 1.3815 will put focus back to medium term support level at 1.3456.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jan 29 16 08:35 GMT
The pull back from 1.4689 is still in progress and deeper fall could be seen. But after all, price action from 1.4689 short term top are viewed as a consolidative pattern. Thus, we'd expect downside to be contained by 1.3815/4000 support zone and bring rebound. Above 1.4325 minor resistance will turn bias back to the upside for retesting 1.4689 high. Nonetheless, firm break of 1.3815 will put focus back to medium term support level at 1.3456.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jan 28 16 02:49 GMT
The pull back from 1.4689 is still in progress and deeper fall could be seen. But after all, price action from 1.4689 short term top are viewed as a consolidative pattern. Thus, we'd expect downside to be contained by 1.3815/4000 support zone and bring rebound. Above 1.4325 minor resistance will turn bias back to the upside for retesting 1.4689 high.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Jan 27 16 02:59 GMT
The pull back from 1.4689 resumed after brief recovery and intraday bias is back on the downside. Deeper fall could be seen. But after all, price action fro 1.4689 short term top are viewed as a consolidative pattern. Thus, we'd expect downside to be contained by 1.3815/4000 support zone and bring rebound. Above 1.4325 minor resistance will turn bias back to the upside for retesting 1.4689 high.
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