USDCAD Outlook

Intraday bias in USD/CAD is turned neutral with current recovery. On the upside, firm break of 1.4067 indicate short term bottoming, on bullish divergence condition in 4H MACD. Stronger rebound would be seen back to retest 1.4298 high. ON the downside, sustained trading below 38.2% retracement of 1.3480 to 1.4298 at 1.3986 will target 61.8% retracement at 1.3792 next.

In the bigger picture, current development argues that corrective rebound from 1.3480 has completed at 1.4298 after hitting 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290. Sustained break of 55 W EMA (now at 1.3929) will solidify this case. That would in turn indicate that fall from 1.4791 might be ready to resume. Retest of 1.3480 low should be seen next. For now, risk will stay on the downside as long as 1.4298 holds.

No change in USD/CAD's outlook and further decline is expected with 1.4067 resistance intact. Sustained trading below 38.2% retracement of 1.3480 to 1.4298 at 1.3986 will target 61.8% retracement at 1.3792 next. On the upside, however, break of 1.4067 resistance will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development argues that corrective rebound from 1.3480 has completed at 1.4298 after hitting 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290. Sustained break of 55 W EMA (now at 1.3929) will solidify this case. That would in turn indicate that fall from 1.4791 might be ready to resume. Retest of 1.3480 low should be seen next. For now, risk will stay on the downside as long as 1.4298 holds.

Further decline is expected in USD/CAD with 1.4067 resistance intact. Sustained trading below 38.2% retracement of 1.3480 to 1.4298 at 1.3986 will target 61.8% retracement at 1.3792 next. On the upside, however, break of 1.4067 resistance will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development argues that corrective rebound from 1.3480 has completed at 1.4298 after hitting 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290. Sustained break of 55 W EMA (now at 1.3929) will solidify this case. That would in turn indicate that fall from 1.4791 might be ready to resume. Retest of 1.3480 low should be seen next. For now, risk will stay on the downside as long as 1.4298 holds.