Daily Pivots: (S1) 1.3580; (P) 1.3598; (R1) 1.3617; More…

USD/CAD is still extending sideway trading and intraday bias remains neutral. On the downside, below 1.3545 minor support will suggest that recovery from 1.3439 has completed, turn bias to the downside for retesting this low. Nevertheless, decisive break of 38.2% retracement of 1.3946 to 1.3439 at 1.3633 would argue that the decline from 1.3946 has completed. Stronger rally would then be seen to 61.8% retracement at 1.3752 and above.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3567; (P) 1.3587; (R1) 1.3607; More…

Intraday bias in USD/CAD remains neutral as sideway trading continues. On the downside, below 1.3545 minor support will suggest that recovery from 1.3439 has completed, turn bias to the downside for retesting this low. Nevertheless, decisive break of 38.2% retracement of 1.3946 to 1.3439 at 1.3633 would argue that the decline from 1.3946 has completed. Stronger rally would then be seen to 61.8% retracement at 1.3752 and above.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3567; (P) 1.3584; (R1) 1.3602; More…

Intraday bias in USD/CAD remains neutral at this point, and another fall remains in favor. On the downside, below 1.3545 minor support will turn bias to the downside for retesting 1.3439 low. Nevertheless, sustained break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

USD/CAD’s rebound from 1.3439 continued last week but failed to break through 1.3617 resistance decisively. Initial bias stays neutral this week first and another fall remains in favor. On the downside, below 1.3545 minor support will turn bias to the downside for retesting 1.3439 low. Nevertheless, sustained break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern, 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 long as 1.2947 resistance turned support holds.

Daily Pivots: (S1) 1.3562; (P) 1.3584; (R1) 1.3602; More…

Intraday bias in USD/CAD remains neutral first and further decline is in favor. On the downside, below 1.3545 minor support will bring retest of 1.3439 low first. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3554; (P) 1.3589; (R1) 1.3610; More…

USD/CAD failed to break through 1.3617 resistance decisively so far. Intraday bias remains neutral and further decline remains in favor. On the downside, below 1.3545 minor support will bring retest of 1.3439 low first. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3570; (P) 1.3593; (R1) 1.3633; More…

USD/CAD’s recovery is still limited by 1.3617 resistance and intraday bias remains neutral. Further decline will remain in favor as long as 1.3617 resistance holds. On the downside, below 1.3545 minor support will bring retest of 1.3439 low first. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3544; (P) 1.3561; (R1) 1.3575; More…

USD/CAD is extending consolidation form 1.3439 and intraday bias remains neutral. While stronger recovery cannot be ruled out, further decline will remain in favor as long as 1.3617 resistance holds. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3492; (P) 1.3509; (R1) 1.3519; More…

Intraday bias in USD/CAD remains neutral as consolidation from 1.3439 is extending. Further decline will remain in favor as long as 1.3617 resistance holds. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

USD/CAD’s rebound from 1.3439 extended higher last week but upside is limited below 1.3617 resistance so far. Initial bias remains neutral this week and further decline remain in favor. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern, 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 long as 1.2947 resistance turned support holds.

Daily Pivots: (S1) 1.3492; (P) 1.3509; (R1) 1.3519; More…

USD/CAD is still bounded in consolidation above 1.3439 and intraday bias remains neutral. With 1.3618 resistance intact, further decline is expected. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3481; (P) 1.3523; (R1) 1.3546; More…

Intraday bias in USD/CAD remains neutral as consolidation continues above 1.3439. Further decline is expected with 1.3617 resistance intact. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3507; (P) 1.3535; (R1) 1.3579; More…

While USD/CAD’s recovery from 1.3439 extended, upside is capped below 1.3617 resistance. Intraday bias remains neutral and further decline is still expected. On the downside, break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next. However, firm break of 1.3617 will confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3485; (P) 1.3495; (R1) 1.3505; More…

Intraday bias in USD/CAD remains neutral at this point. Some more consolidations would be seen above 1.3439, and stronger recovery cannot be ruled out. But further decline is expected as long as 1.3617 resistance holds. Break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3470; (P) 1.3490; (R1) 1.3514; More…

Intraday bias in USD/CAD remains neutral for consolidations above 1.3439. Further decline is expected as long as 1.3617 resistance holds. Break of 1.3439 and sustained trading below 61.8% retracement of 1.3091 to 1.3946 at 1.3418 will pave the way to 1.3091/3176 support zone next.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

USD/CAD’s fall from 1.3946 continued last week and extended to as low as 1.3439. But as a temporary low was formed there, initial bias remains neutral this week for more consolidations. Outlook will stay bearish as long as 1.3617 resistance holds. Below 1.3439 will target 1.3176 support next.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

In the longer term picture, price actions from 1.4689 (2016 high) are seen as a consolidation pattern, 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 long as 1.2947 resistance turned support holds.

Daily Pivots: (S1) 1.3459; (P) 1.3475; (R1) 1.3500; More…

USD/CAD continues to consolidate above 1.3439 temporary low and intraday bias remains neutral. Upside of recovery should be limited below 1.3617 resistance to bring another fall. On the downside, below 1.3439 will resume the decline from 1.3946 and target 1.3176 support next.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3452; (P) 1.3470; (R1) 1.3499; More…

A temporary low is in place at 1.3439 with current recovery and intraday bias in USD/CAD is turned neutral first. Upside of recovery should be limited below 1.3617 resistance to bring another fall. On the downside, below 1.3439 will resume the decline from 1.3946 and target 1.3176 support next.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3425; (P) 1.3462; (R1) 1.3480; More…

USD/CAD’s decline from 1.3946 is still in progress today and intraday bias remains on the downside. Deeper fall would be seen to 1.3176 support next. On the upside, above 1.3514 minor resistance will turn intraday bias neutral first. But outlook will now stay bearish as long as 1.3588 support turned resistance holds.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Daily Pivots: (S1) 1.3457; (P) 1.3491; (R1) 1.3519; More…

Intraday bias in USD/CAD remains on the downside as fall from 1.3946 is in progress. Firm break of 1.3477 support will pave the way to 1.3091/3176 support zone. On the upside, above 1.3570 support turned resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, current development suggests that corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.