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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 Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 20 14 09:13 GMT
The pull back from 1.1098 last week was deeper than expected and the development dampened the immediate bullish case. Initial bias is mildly on the downside with focus on 1.0810 cluster support (61.8% retracement of 1.0620 to 1.1098 at 1.0803. Break there will argue that rebound from 1.0620 is completed and bring retest of this support. Though, with 1.0810 cluster intact, another rise will remain mildly in favor. Above 1.1023 minor resistance will turn bias back to the upside for 1.1098 first.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 19 14 07:22 GMT
Intraday bias in USD/CAD remains neutral for the moment. Another rise is still mildly in favor. Break of 1.1098 will extend recent rally from 1.0620 to 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187. Break will bring retest of 1.1278 high. Nonetheless, break of 1.0933 again will turn focus to 1.0810 key near term support instead. Decisive break there will confirm near term reversal.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 18 14 04:59 GMT
Despite a brief breach of 1.0933 support, USD/CAD quickly recovered and intraday bias remains neutral. We'd still expect downside of retreat to be contained by 1.0933 support and bring rally resumption. Break of 1.1098 will extend recent rally from 1.0620 to 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187. Break will bring retest of 1.1278 high. Nonetheless, break of 1.0933 again will turn focus to 1.0810 key near term support instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 17 14 03:19 GMT
The retreat from 1.1098 temporary lower but outlook in USD/CAD remains unchanged. Intraday bias remains neutral for some more consolidations. But downside should be contained above 1.0933 support and bring rally resumption. Break of 1.1098 will extend recent rally from 1.0620 to 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187. Break will bring retest of 1.1278 high. Nonetheless, break of 1.0933 will turn focus to 1.0810 key near term support instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 16 14 03:57 GMT
A temporary top is in place at 1.1098 and intraday bias is turned neutral again. Some consolidations could be seen but downside should be contained above 1.0933 support and bring another rise. Above 1.1098 will extend recent rally from 1.0620 to 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187. Break will bring retest of 1.1278 high.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 15 14 07:17 GMT
Intraday bias in USD/CAD remains on the upside for the moment and current rally is still in progress for 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187. Break will bring retest of 1.1278 high. On the downside, below 1.1029 minor support will turn bias neutral and bring consolidations. But downside should be contained well above 1.0810 support and bring another rally.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 13 14 11:10 GMT
USD/CAD surged strongly to as high as 1.1097 last week and the break of 1.0997 resistance confirmed resumption of whole rise from 1.0602. Initial bias remains on the upside this week for 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187. Break will bring retest of 1.1278 high. On the downside, below 1.1029 minor support will turn bias neutral and bring consolidations. But downside should be contained well above 1.0810 support and bring another rally.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 12 14 04:45 GMT
USD/CAD's rally resumed by taking out 1.1031 and reaches as high as 1.1060 so far. Intraday bias is back on the upside. Current rally from 1.0620 should now extend to 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187. Break will bring retest of 1.1278 high. On the downside, break of 1.0933 support is needed to be the first sign of short term topping. Otherwise, outlook will stay bullish in case of retreat.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 11 14 06:17 GMT
Intraday bias in USD/CAD remains neutral for some more consolidations below 1.1031 temporary top. Downside is expected to be contained well above 1.0810 support and bring another rally. Above 1.1031 will extend the larger rise from 1.0620 to 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187 and then 1.1278 high.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Sep 10 14 05:30 GMT
A temporary top is in place at 1.1031 and intraday bias in USD/CAD is turned neutral first. Some consolidations could be seen but downside should be contained well above 1.0810 support and bring rally resumption. Above 1.1031 will target 100% projection of 1.0620 to 1.0997 from 1.0810 at 1.1187 and then 1.1278 high.
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