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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 | Aug 29 16 04:31 GMT
USD/CAD's pull back from 1.3251 should have completed at 1.2763. Intraday bias is mildly on the upside for 1.3251 resistance and possibly above. Nonetheless, we maintain that price actions from 1.2460 are corrective looking. Thus, we'd be cautious on strong resistance from 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside and bring another decline. On the downside, below 1.2830 minor support will turn bias to the downside.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 27 16 07:25 GMT
USD/CAD's break of 1.2995 resistance last week argues that pull back from 1.3251 has completed at 1.2763 already. Initial bias is back to the upside for 1.3251 resistance and possibly above. Nonetheless, we maintain that price actions from 1.2460 are corrective looking. Thus, we'd be cautious on strong resistance from 38.2% retracement of 1.4689 to 1.2460 at 1.3311 to limit upside and bring another decline. On the downside, below 1.2830 minor support will turn bias to the downside.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 26 16 03:22 GMT
Intraday bias in USD/CAD remains neutral for the moment. And, near term outlook stays bearish with 1.2995 support turned resistance intact. We're holding on to the view that corrective rise from 1.2460 should have completed at 1.3251 already. Below 1.2862 minor support will turn bias to the downside. Further break of 1.2654 support will likely extend the whole decline from 1.4689 through 1.2460 low. However, above 1.2995 will dampen this bearish view and turn bias back to the upside for 1.3251 instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 25 16 04:13 GMT
Intraday bias in USD/CAD remains neutral for the moment. And, near term outlook stays bearish with 1.2995 support turned resistance intact. We're holding on to the view that corrective rise from 1.2460 should have completed at 1.3251 already. Below 1.2763 will target 1.2654 support first. Break there will likely extend the whole decline from 1.4689 through 1.2460 low. However, above 1.2995 will dampen this bearish view and turn bias back to the upside for 1.3251 instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 24 16 05:13 GMT
Intraday bias in USD/CAD remains neutral for the moment. And, near term outlook stays bearish with 1.2995 support turned resistance intact. We're holding on to the view that corrective rise from 1.2460 should have completed at 1.3251 already. Below 1.2763 will target 1.2654 support first. Break there will likely extend the whole decline from 1.4689 through 1.2460 low. However, above 1.2995 will dampen this bearish view and turn bias back to the upside for 1.3251 instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 23 16 04:39 GMT
The rebound from 1.2763 is still in progress and could extend. But still, near term outlook stays bearish with 1.2995 support turned resistance intact. We're holding on to the view that corrective rise from 1.2460 should have completed at 1.3251 already. Below 1.2763 will target 1.2654 support first. Break there will likely extend the whole decline from 1.4689 through 1.2460 low. However, above 1.2995 will dampen this bearish view and turn bias back to the upside for 1.3251 instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 22 16 04:41 GMT
Intraday bias in USD/CAD remains neutral for the moment. Outlook stays bearish as long as 1.2995 support turned resistance holds. As noted before, corrective rise from 1.2460 should have completed at 1.3251 already. Below 1.2763 will target 1.2654 support first. Break there will likely extend the whole decline from 1.4689 through 1.2460 low. However, above 1.2995 will dampen this bearish view and turn bias back to the upside for 1.3251 instead.
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USD/CAD Weekly Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 20 16 11:15 GMT
USD/CAD dropped to as low as 1.2763 last week and formed a temporary low there. Initial bias is neutral this week for some sideway trading first. But outlook stays bearish as long as 1.2995 support turned resistance holds. As noted before, corrective rise from 1.2460 should have completed at 1.3251 already. Below 1.2763 will target 1.2654 support first. Break there will likely extend the whole decline from 1.4689 through 1.2460 low. However, above 1.2995 will dampen this bearish view and turn bias back to the upside for 1.3251 instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 19 16 04:45 GMT
USD/CAD's fall from 1.3251 is still in progress for 1.2654 support. As noted before, corrective rise from 1.2460 could have completed at 1.3251 already. Break of 1.2654 will target retest of 1.2460 low. On the upside, above 1.2995 support turned resistance will dampen this bearish view and turn focus back to 1.3251 resistance instead.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 18 16 04:24 GMT
With 1.2995 minor resistance intact, further decline is expected in USD/CAD. As noted before, corrective rise from 1.2460 could have completed at 1.3251 already. Further fall should be seen to 1.2654 support first. Firm break there will bring retest of 1.2460 low. On the upside, above 1.2995 support turned resistance will dampen this bearish view and turn focus back to 1.3251 resistance instead.
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