Daily Pivots: (S1) 1.3504; (P) 1.3534; (R1) 1.3589; More….

Intraday bias in USD/CAD remains mildly on the upside for the moment. Current development argues that rebound from 1.3313 is possibly another leg inside the triangle pattern from 1.3976. Further rise should be seen for 1.3666 resistance. Break there will target 1.3860 resistance next. On the downside, though, below 1.3478 minor support will turn intraday bias neutral instead.

In the bigger picture, as long as 55 W EMA (now at 1.3321) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

USD/CAD rebounded strongly ahead of 1.3299 support, after hitting 55 W EMA. The development suggests that it’s possibly in another leg inside the triangle pattern from 1.3976. Initial bias is now mildly on the upside for 1.3666 resistance. Break there will target 1.3860 resistance next. On the downside, though, below 1.3478 minor support will turn intraday bias neutral instead.

In the bigger picture, as long as 55 W EMA (now at 1.3321) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3031) holds.

Daily Pivots: (S1) 1.3403; (P) 1.3450; (R1) 1.3536; More….

Intraday bias in USD/CAD is back on the upside with strong break of 55 4H EMA. Further rise would be seen back towards 1.3666 resistance. On the downside, firm break of 1.3299 will extend the corrective pattern from 1.3976 lower to 100% projection of 1.3976 to 1.3224 from 1.3860 at 1.3395 next.

In the bigger picture, as long as 55 W EMA (now at 1.3315) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

Daily Pivots: (S1) 1.3333; (P) 1.3374; (R1) 1.3413; More….

Intraday bias in USD/CAD remains neutral for the moment. Further fall is mildly in favor. Firm break of 1.3299 will extend the corrective pattern from 1.3976 lower to 100% projection of 1.3976 to 1.3224 from 1.3860 at 1.3395 next. nevertheless, sustained trading above 55 4H EMA (now at 1.3456) will bring stronger rebound back to 1.3666 resistance instead.

In the bigger picture, as long as 55 W EMA (now at 1.3315) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

Daily Pivots: (S1) 1.3364; (P) 1.3385; (R1) 1.3405; More….

Intraday bias in USD/CAD is turned neutral as it recovered ahead of 1.3299 support. Further fall is mildly in favor. Firm break of 1.3299 will extend the corrective pattern from 1.3976 lower to 100% projection of 1.3976 to 1.3224 from 1.3860 at 1.3395 next. nevertheless, sustained trading above 55 4H EMA (now at 1.3475) will bring stronger rebound back to 1.3666 resistance instead.

In the bigger picture, as long as 55 W EMA (now at 1.3315) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

Daily Pivots: (S1) 1.3330; (P) 1.3358; (R1) 1.3402; More….

Intraday bias in USD/CAD stays on the downside at this point. Firm break of 1.3299 will extend the corrective pattern from 1.3976 lower to 100% projection of 1.3976 to 1.3224 from 1.3860 at 1.3395 next. On the upside, though, above 1.3389 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 55 W EMA (now at 1.3312) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

Daily Pivots: (S1) 1.3316; (P) 1.3430; (R1) 1.3489; More….

Intraday bias in USD/CAD remains on the downside for 1.3299 support first. Firm break there will extend the corrective pattern from 1.3976 lower to 100% projection of 1.3976 to 1.3224 from 1.3860 at 1.3395 next. On the upside, though, above 1.3425 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 55 W EMA (now at 1.3312) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

USD/CAD’s steep decline last week indicates short term topping at 1.3666. More importantly, the downside acceleration now argues that fall from 1.3860 is the third leg of the pattern from 1.3976. Initial bias is no won the downside this week first 1.3299 support first. Firm break there will target 100% projection of 1.3976 to 1.3224 from 1.3860 at 1.3395 next. On the upside, though, above 1.3477 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 55 W EMA (now at 1.3312) holds, up trend from 1.2005 (2021 low) is still in favor to resume through 1.3976 at a later stage. However, sustained trading below the EMA and 38.2% retracement of 1.2005 to 1.3976 at 1.3233 will raise the chance of bearish reversal. Deeper should then be seen to 61.8% retracement at 1.2758 next.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3025) holds.

Daily Pivots: (S1) 1.3495; (P) 1.3564; (R1) 1.3608; More….

USD/CAD’s break of 1.3521 dampened the bullish view and suggests that rebound from 1.3299 has completed at 1.3668. Fall from there could be another down leg in the corrective pattern from 1.3976. Intraday bias is back on the downside for 1.3299 support. On the upside, break of 1.3668 will resume the rebound instead.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.3584; (P) 1.3612; (R1) 1.3642; More….

USD/CAD is staying in range below 1.3668 and intraday bias remains neutral. Further rise is expected with 1.3521 support intact. Corrective pattern from 1.3976 could have completed with three waves to 1.3299. On the upside, above 1.3668 will target 1.3860/3976 resistance zone. However, firm break of 1.3521 will dampen this bullish view and bring deeper fall back towards 1.3299 support instead.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.3522; (P) 1.3552; (R1) 1.3574; More….

USD/CAD is still holding above 1.3521 minor support and intraday bias remains neutral for the moment. Further rise is still mildly in favor. Corrective pattern from 1.3976 could have completed with three waves to 1.3299. On the upside, above 1.3668 will target 1.3860/3976 resistance zone. However, firm break of 1.3521 will dampen this bullish view and bring deeper fall back towards 1.3299 support instead.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.3501; (P) 1.3584; (R1) 1.3633; More….

Intraday bias in USD/CAD remains neutral at this point, and further rally is in favor as long as 1.3521 minor support holds. Corrective pattern from 1.3976 could have completed with three waves to 1.3299. On the upside, above 1.3668 will target 1.3860/3976 resistance zone. However, firm break of 1.3521 will dampen this bullish view and bring deeper fall back towards 1.3299 support instead.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

USD/CAD’s rose to 1.3668 last week but retreated since then. Initial bias is turned neutral this week first. Further rally is in favor as long as 1.3521 minor support holds. Corrective pattern from 1.3976 could have completed with three waves to 1.3299. On the upside, above 1.3668 will target 1.3860/3976 resistance zone. However, firm break of 1.3521 will dampen this bullish view and bring deeper fall back towards 1.3299 support instead.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3012) holds.

Daily Pivots: (S1) 1.3571; (P) 1.3609; (R1) 1.3629; More….

A temporary top should be conformed at 1.3650 with current retreat. Intraday bias in USD/CAD is turned neutral first. Overall, the correction pattern from 1.3976 could have completed with three waves to 1.3299. Above 1.3650 will resume the rise from 1.3299 to 1.3860/3976 resistance zone. Decisive break there will resume larger up trend. However, break of 1.3521 support will dampen this bullish case.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.3607; (P) 1.3629; (R1) 1.3658; More….

Intraday bias in USD/CAD remains on the upside despite some loss of upside momentum. As note before, the correction pattern from 1.3976 could have completed with three waves to 1.3299. Further rally should be seen to 1.3860/3976 resistance zone. Decisive break there will resume larger up trend. On the downside, below 1.3521 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.3552; (P) 1.3600; (R1) 1.3675; More….

Intraday bias in USD/CAD stays on the upside at this point. As note before, the correction pattern from 1.3976 could have completed with three waves to 1.3299. Further rally should be seen to 1.3860/3976 resistance zone. Decisive break there will resume larger up trend. On the downside, below 1.3521 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.3521; (P) 1.3544; (R1) 1.3565; More….

USD/CAD’s break of 1.3552 resistance argues that decline from 1.3860 has completed. More importantly, whole corrective pattern from 1.3976 has finished with three waves to 1.3299. Intraday bias is back on the upside for further rise to 1.3860/3976 resistance zone. Decisive break there will resume larger up trend. On the downside, below 1.3521 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.3487; (P) 1.3525; (R1) 1.3578; More….

Immediate focus stays on 1.3552 resistance in USD/CAD. As noted before, price actions from 1.3976 are seen as a corrective pattern with fall from 1.3860 as the third leg. Decisive break of 1.3552 will argue that such corrective pattern has completed. Further rally should then be seen back to 1.3860/3976 resistance zone.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

USD/CAD’s rebound from 1.3299 extended higher last week. Immediate focus is now on 1.3352 resistance. As noted before, price actions from 1.3976 are seen as a corrective pattern with fall from 1.3860 as the third leg. Decisive break of 1.3552 will argue that such corrective pattern has completed. Further rally should then be seen back to 1.3860/3976 resistance zone.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3302) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern only, which might have completed at 1.2005. That is, up trend from 0.9506 (2007 low) is expected to resume at a later stage. This will remain the favored case as 55 M EMA (now at 1.3012) holds.

Daily Pivots: (S1) 1.3455; (P) 1.3472; (R1) 1.3496; More….

USD/CAD’s rebound from 1.3299 extends higher today and focus is now on 1.3552 resistance. Firm break there will argue that fall form 1.3860 has completed. More important, that would also indicate completion of the three-wave corrective pattern from 1.3976 too. Intraday bias will be back on the upside for 1.3860/3976 resistance zone.

In the bigger picture, the up trend from 1.2005 (2021 low) is still in progress. Break of 1.3976 will confirm resumption and target 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234. Firm break there will pave the way to long term resistance zone at 1.4667/89 (2016, 2020 highs). On the downside, sustained break of 55 W EMA (now at 1.3282) is needed to confirm medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.