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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 14 05:59 GMT
Intraday bias in USD/CAD remains on the downside for the moment. The corrective fall from 1.0997 short term top could extend lower to 61.8% retracement of 1.0620 to 1.0997 at 1.0764. But we'd expect strong support from there to bring rebound. On the upside, above 1.0908 minor resistance will turn bias back to the upside for retesting 1.0997 first.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 28 14 04:24 GMT
USD/CAD dives to as low as 1.0828 so far and the break of 1.0859 confirmed short term topping at 1.0997, on bearish divergence condition in 4 hours MACD. Intraday bias is mildly on the downside and deeper pull back could be seen to 1.0793 support. But such decline is viewed as a correction only. Thus, we'd expect support from 61.8% retracement of 1.0620 to 1.0997 at 1.0764 and bring rebound. On the upside, above 1.0908 minor resistance will turn bias back to the upside for retesting 1.0997 first.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 27 14 05:22 GMT
USD/CAD lost momentum again after hitting 1.0997 and intraday bias is turned neutral again. With 1.0859 resistance intact, further rise is still expected in the pair for 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Sustained break will pave the way for retesting 1.1278 resistance. However, break of 1.0859 will indicate short term topping and will turn bias back to the downside for 1.0793 support first.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 26 14 07:10 GMT
USD/CAD's rally resumes and reaches as high as 1.0997 so far. Intraday bias is back on the upside and current rise should target 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Sustained break will pave the way for retesting 1.1278 resistance. On the downside, break of 1.0859 support is needed to signal 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 | Aug 25 14 04:52 GMT
Intraday bias in USD/CAD remains neutral for the moment. With 1.0859 support intact, further rise is still expected in the pair. Above 1.0986 will target 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Sustained break will pave the way for retesting 1.1278 resistance. However, break of 1.0859 will indicate short term reversal and turn bias back to the downside for 1.0793 resistance turned support.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 22 14 05:03 GMT
USD/CAD retreats sharply after hitting 1.0986 and intraday bias is turned neutral first. Further rise is still in favor for 61.8% retracement of 1.1278 to 1.0620 at 1.1027 Sustained break will pave the way for retesting 1.1278 resistance. However, break of 1.0859 will indicate short term reversal and turn bias back to the downside for 1.0793 resistance turned support.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 21 14 06:04 GMT
USD/CAD rises to as high as 1.0986 so far today and the breach of 1.0985 suggests that rally from 1.0620 is resuming. Intraday bias is back on the upside for 61.8% retracement of 1.1278 to 1.0620 at 1.1027 Sustained break will pave the way for retesting 1.1278 resistance. On the downside, break of 1.0859 support is needed to indicate 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 | Aug 20 14 05:57 GMT
No change in USD/CAD's outlook. It's staying in range below 1.0985 and more consolidation could be seen. But still, we're expecting strong support around 38.2% retracement of 1.0708 to 1.0985 at 1.0879 to contain downside. Larger rally is expected to resume later and above 1.0985 will target 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Though, another decline will turn focus back to 1.0793 resistance turned support.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 19 14 04:34 GMT
At this point, we'd still expect strong support around 38.2% retracement of 1.0708 to 1.0985 at 1.0879. Larger rally is expected to resume later and above 1.0985 will target 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Though, another decline will turn focus back to 1.0793 resistance turned support.
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USD/CAD Daily Outlook Print E-mail
USDCAD Outlook | Written by ActionForex.com | Aug 18 14 07:28 GMT
At this point, we'd still expect strong support around 38.2% retracement of 1.0708 to 1.0985 at 1.0879. Larger rally is expected to resume later and above 1.0985 will target 61.8% retracement of 1.1278 to 1.0620 at 1.1027. Though, another decline will turn focus back to 1.0793 resistance turned support.
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