Daily Pivots: (S1) 1.3465; (P) 1.3542; (R1) 1.3586; More…

USD/CAD’s fall from 1.3946 continues today and intraday bias stays on the downside for 1.3477 support. Firm break there will target 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.

Daily Pivots: (S1) 1.3465; (P) 1.3542; (R1) 1.3586; More…

Intraday bias in USD/CAD remains on the downside for the moment. Fall from 1.3946 is in progress for 1.3477 support. Firm break there will target 1.3091/3176 support zone. On the upside, above 1.3617 resistance will turn intraday bias neutral first.

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 steep decline and strong break of 1.3588 support argues that while rise from 1.3176 has completed already. Fall from 1.3946 is seen as another falling leg inside medium term range pattern. Initial bias stays on the downside this week for 1.3477 support. Firm break there will target 1.3091/3176 support zone. On the upside, above 1.3617 resistance will turn intraday bias neutral first.

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) 1.3585; (P) 1.3602; (R1) 1.3632; More…

Intraday bias in USD/CAD remains neutral with focus on 1.3588 structural support. Strong support could be seen there to bring reversal. On the upside, above 1.3640 minor resistance will turn intraday bias back to the upside for stronger rebound. However, decisive break of 1.3588 will argue that rise from 1.3176 has completed at 1.3946 and target 1.3477 support next.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback. However, firm break of 1.3588 will argue that consolidation from 1.3976 is already extending with another falling leg back towards 1.3091/3176 support zone.

Daily Pivots: (S1) 1.3566; (P) 1.3604; (R1) 1.3631; More…

Immediate focus is now on 1.3588 structural support as fall from 1.3946 extended. Strong support could be seen there to bring reversal. On the upside, above 1.3640 minor resistance will turn intraday bias back to the upside for stronger rebound. However, decisive break of 1.3588 will argue that rise from 1.3176 has completed at 1.3946 and target 1.3477 support next.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback. However, firm break of 1.3588 will argue that consolidation from 1.3976 is already extending with another falling leg back towards 1.3091/3176 support zone.

Daily Pivots: (S1) 1.3603; (P) 1.3622; (R1) 1.3639; More…

Intraday bias in USD/CAD stays on the downside for 1.3588 structural support. Strong support could be seen from there to bring reversal. On the upside, above 1.3686 minor resistance will turn intraday bias back to the upside for stronger rebound. However, decisive break of 1.3588 will argue that rise from 1.3176 has completed at 1.3946 and target 1.3477 support next.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback. However, firm break of 1.3588 will argue that consolidation from 1.3976 is already extending with another falling leg back towards 1.3091/3176 support zone.

Daily Pivots: (S1) 1.3614; (P) 1.3650; (R1) 1.3670; More…

USD/CAD’s fall from 1.3946 is still in progress and intraday bias stays on the downside for 1.3588 structural support. Strong support could be seen from there to bring reversal. On the upside, above 1.3684 will turn intraday bias back to the upside for stronger rebound. However, decisive break of 1.3588 will argue that rise from 1.3176 has completed and target 1.3477 support next.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback. However, firm break of 1.3588 will argue that consolidation from 1.3976 is already extending with another falling leg back towards 1.3091/3176 support zone.

Daily Pivots: (S1) 1.3614; (P) 1.3650; (R1) 1.3670; More…

Intraday bias in USD/CAD remains on the downside as fall from 1.3946 is extending towards 1.3588 structural support. Strong support could be seen from there to bring reversal. However, for now, risk will stay on the downside as long as 1.3737 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3658; (P) 1.3698; (R1) 1.3717; More…

USD/CAD’s decline from 1.3946 continues today and intraday bias stays on the downside for 1.3588 support. On the upside, above 1.3737 minor resistance will turn intraday bias back to the upside for stronger recovery.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

USD/CAD’s fall from 1.3946 short term top extended lower last week, and with the late break of 1.3688 temporary low, initial bias is back on the downside, Deeper decline should be seen to 1.3588 support. On the upside, above 1.3737 minor resistance will turn intraday bias back to the upside for stronger recovery.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

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) 1.3704; (P) 1.3722; (R1) 1.3747; More…

Intraday bias in USD/CAD is turned neutral first with current recovery. Further decline is mildly in favor as long as 1.3764 minor resistance holds. Below 1.3688 will resume the fall from 1.3946 to 1.3588 key support. Nevertheless, break of 1.3764 will turn bias back to the upside for rebound towards 1.3946 high.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3694; (P) 1.3709; (R1) 1.3730; More…

Intraday bias in USD/CAD stays on the downside at this point despite weak downside momentum. Fall from 1.3946 would extend towards 1.3588 key support. On the upside, above 1.3674 minor resistance will turn bias back to the upside for stronger recovery.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3725; (P) 1.3737; (R1) 1.3754; More…

USD/CAD’s fall from 1.3946 resumed after brief consolidations and intraday bias is back on the downside sustained trading below 55 D EMA (now at 1.3726) will dampen the original bullish view and bring deeper decline back towards 1.3588 support. On the upside, above 1.3764 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3725; (P) 1.3737; (R1) 1.3754; More…

Intraday bias in USD/CAD remains neutral for the moment. Strong rebound from current level, followed by break of 1.3790 minor resistance, will retain near term bullishness. Further rise should be seen to retest 1.3946 high. However, sustained trading below 55 D EMA (now at 1.3726) will dampen the original bullish view and bring deeper decline back towards 1.3588 support.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3714; (P) 1.3733; (R1) 1.3749; More…

Intraday bias in USD/CAD remains neutral at this point. Strong rebound from current level, followed by break of 1.3790 minor resistance, will retain near term bullishness. Further rise should be seen to retest 1.3946 high. However, sustained trading below 55 D EMA (now at 1.3726) will dampen the original bullish view and bring deeper decline back towards 1.3588 support.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

USD/CAD spiked higher to 1.3946 last week but reversed from there. Yet, downside is contained by 55 D EMA (now at 1.3717) so far. Initial bias is neutral this week first. Strong rebound from current level, followed by break of 1.3790 minor resistance, will retain near term bullishness. Further rise should be seen to retest 1.3946 high. However, sustained trading below 1.3717 will dampen the original bullish view and bring deeper decline back towards 1.3588 support.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

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) 1.3719; (P) 1.3742; (R1) 1.3759; More…

Intraday bias in USD/CAD is turned neutral first with current recovery. But further fall is expected as long as 1.3790 resistance holds. Break of 1.3720 and sustained trading below 55 D EMA (now at 1.3726) would dampen the original bullish outlook and bring deeper fall to 1.3588 support. On the upside, above 1.3790 minor resistance will bring retest of 1.3946 instead.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3722; (P) 1.3756; (R1) 1.3792; More…

Intraday bias in USD/CAD remains on the downside as pullback from 1.3946 short term top extends. Sustained break of 55 D EMA (now at 1.3726) would dampen the original bullish outlook and bring deeper fall. On the upside, above 1.3790 minor resistance will bring retest of 1.3946.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3743; (P) 1.3799; (R1) 1.3842; More…

USD/CAD’s break of 1.3786 support confirms short term topping at 1.3946, on bearish divergence condition in 4H MACD. Intraday bias is back on the downside for 55 D EMA (now at 1.3726). Sustained break there would dampen the original bullish outlook and bring deeper fall. On the upside, above 1.3855 minor resistance will bring retest of 1.3946 first.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.

Daily Pivots: (S1) 1.3775; (P) 1.3861; (R1) 1.3913; More…

Intraday bias in USD/CAD turned neutral with the current retreat. But further rise is expected as long as 1.3786 support holds. Break of 1.3946 will target 61.8% projection of 1.3176 to 1.3845 from 1.3588 at 1.4025 next. Nevertheless, firm break of 1.3786 will turn bias back to the downside for deeper pullback instead.

In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern, that might have completed at 1.3176 (2023 low) already. Firm break of 1.3976 will confirm resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149. This will be the favored case as long as 1.3588 support holds, in case of pullback.