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Action Insight: USDCAD Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 27 16 04:04 GMT
USD/CAD surged through 1.3247 resistance and quickly retreated. Outlook remains unchanged that price actions from 1.2460 are viewed as a consolidation pattern. Hence, in case of further rise, we'd expect strong resistance from 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. Below 1.2999 will turn bias to the downside for 1.2763 support. Decisive break there will pave the way for 1.2460 low. However, sustained break of 1.3311 will target 1.3838 fibonacci level.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 26 16 11:07 GMT
Intraday bias in USD/CAD remains neutral for the moment. As noted before, price actions from 1.2460 are viewed as a consolidation pattern. Hence, in case of further rise, we'd expect strong resistance from 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. Below 1.2999 will turn bias to the downside for 1.2763 support. Decisive break there will pave the way for 1.2460 low. However, sustained break of 1.3311 will target 1.3838 fibonacci level.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 24 16 13:25 GMT
USD/CAD dipped to 1.2999 last week but quickly rebounded. Initial bias is neutral this week first. Overall, price actions from 1.2460 are viewed as a consolidation pattern. Hence, in case of further rise, we'd expect strong resistance from 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. Below 1.2999 will turn bias to the downside for 1.2763 support. Decisive break there will pave the way for 1.2460 low. However, sustained break of 1.3311 will target 1.3838 fibonacci level.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 23 16 08:42 GMT
Intraday bias in USD/CAD remains on the downside for 1.2821 support first. Overall, price actions from 1.2460 are viewed as a consolidation pattern and should be limited by 38.2% retracement of 1.4689 to 1.2460 at 1.3311. Break of 1.2821 will likely extend the larger decline from 1.4689 through 1.2460 low.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 22 16 02:56 GMT
USD/CAD's sharp decline and break of 1.3127 minor support suggests that rise from 1.2821 is completed at 1.3247, below 1.3251 resistance. Intraday bias is turned back to the downside for 1.2821 support first. Overall, price actions from 1.2460 are viewed as a consolidation pattern and should be limited by 38.2% retracement of 1.4689 to 1.2460 at 1.3311. Break of 1.2821 will likely extend the larger decline from 1.4689 through 1.2460 low.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 21 16 04:17 GMT
With 1.3217 minor support intact, further rise could be seen in USD/CAD. But again, price actions from 1.2460 are viewed as a consolidative pattern. Thus, strong resistance should be seen at 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. On the downside, break of 1.3127 minor support will turn bias back to the downside for 1.2763 support. However, sustained break of 1.3311 will target 1.3838.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 20 16 06:26 GMT
With 1.3217 minor support intact, further rise could be seen in USD/CAD. But again, price actions from 1.2460 are viewed as a consolidative pattern. Thus, strong resistance should be seen at 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. On the downside, break of 1.3127 minor support will turn bias back to the downside for 1.2763 support. However, sustained break of 1.3311 will target 1.3838.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 19 16 10:25 GMT
With 1.3217 minor support intact, further rise could be seen in USD/CAD. But again, price actions from 1.2460 are viewed as a consolidative pattern. Thus, strong resistance should be seen at 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. On the downside, break of 1.3127 minor support will turn bias back to the downside for 1.2763 support. However, sustained break of 1.3311 will target 1.3838.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 17 16 05:41 GMT
USD/CAD's rise from 1.2821 extended higher last week and further rally is in favor this week. But overall, price actions from 1.2460 are viewed as a consolidative pattern. Thus, strong resistance should be seen at 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. On the downside, break of 1.3127 minor support will turn bias back to the downside for 1.2763 support. However, sustained break of 1.3311 will target 1.3838.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 16 16 03:58 GMT
USD/CAD lost momentum ahead of 1.3251 resistance and formed a temporary top at 1.3235. Intraday bias is turned neutral first. Further rise cannot be ruled out yet. But price actions from 1.2460 are viewed as a consolidative pattern. Thus, strong resistance should be seen at 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside. On the downside, break of 1.3028 minor support will turn bias back to the downside for 1.2763 support.
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