Daily Pivots: (S1) 1.2734; (P) 1.2767; (R1) 1.2815; More….

USD/CAD’s breach of 1.2928 support turned resistance suggests short term bottoming at 1.2688, on bullish convergence condition in 4 hour MACD. Intraday bias is mildly on the upside. Break of 55 day EMA will target 1.3172 resistance. On the downside, break of 1.2688 low is now needed to confirm down trend resumption. Otherwise, risk will be mildly on the upside for more correction.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2734; (P) 1.2767; (R1) 1.2815; More….

USD/CAD’s rebound from 1.2688 extends higher today, but stays below 1.2928 support turned resistance so far. Intraday bias remains neutral first. Outlook stays bearish for now and another decline is expected. On the downside, break of 1.2688 will resume larger down trend from 1.4677. However, on the upside, decisive break of 1.2928 should confirm short term bottoming, on bullish convergence condition in 4 hour MACD. Bias will be turned back to the upside for 55 day EMA (now at 1.3003) first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD edged lower to 1.2688 last week but turned into sideway consolidation since then. Initial bias remains neutral this week for some more sideway trading first. Still, outlook remains bearish as long as 1.2928 support turned resistance holds. Break of 1.2688 will resume larger down trend from 1.4677. Next near term target is 161.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

Daily Pivots: (S1) 1.2691; (P) 1.2721; (R1) 1.2753; More….

USD/CAD is staying in consolidation from 1.2668 temporary low and intraday bias remains neutral. In case of another recovery, upside should be limited by 1.2928 support turned resistance. On the downside, break of 1.2688 will resume recent down trend for 161.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2693; (P) 1.2742; (R1) 1.2786; More….

Intraday bias in USD/CAD remains neutral at this point and some more consolidations could be seen. In case of another recovery, upside should be limited by 1.2928 support turned resistance. On the downside, break of 1.2688 will resume recent down trend for 161.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2668; (P) 1.2720; (R1) 1.2752; More….

USD/CAD breached 1.2706 temporary low briefly but quickly recovered. Intraday bias remains neutral first. Outlook stays bearish with 1.2928 support turned resistance intact. Firm break of 1.2706 will confirm down trend resumption for target 161.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2728; (P) 1.2759; (R1) 1.2798; More….

USD/CAD is staying in consolidation above 1.2706 temporary low and intraday bias remains neutral first. In case of another recovery, upside should be limited by 1.2928 support turned resistance to bring fall resumption. On the downside, firm break of 1.2706 will target 161.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2726; (P) 1.2759; (R1) 1.2799; More….

Intraday bias in USD/CAD remains neutral for some consolidations first. Upside of recovery should be limited by 1.2928 support turned resistance to bring fall resumption. On the downside, firm break of 1.2706 will target 161.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD’s down trend extended to as low as 1.2706 last week. But a temporary low was formed after hitting 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711. Initial bias is turned neutral for some consolidations first. Upside of recovery should be limited by 1.2928 support turned resistance to bring fall resumption. On the downside, firm break of 1.2706 will target 161.8% projection at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

Daily Pivots: (S1) 1.2690; (P) 1.2759; (R1) 1.2812; More….

USD/CAD falls to as low as 1.2706 so far and matched target of 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 already. Intraday bias stays on the downside for 161.8% projection at 1.2426. next. On the upside, break of 1.2833 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2782; (P) 1.2808; (R1) 1.2845; More….

USD/CAD’s fall resumes after brief consolidation and intraday bias is back on the downside. Current down trend should target 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. Break will target 161.8% projection at 1.2426. On the upside, however, break of 1.2833 minor resistance will turn intraday bias neutral again and bring more consolidations.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2782; (P) 1.2808; (R1) 1.2845; More….

USD/CAD is staying in consolidation from 1.2768 temporary low and intraday bias remains neutral. In case of another recovery, upside should be limited by 1.2928 support turned resistance to bring fall resumption. On the downside, break of 1.2768 will target 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. Break will target 161.8% projection at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2783; (P) 1.2804; (R1) 1.2840; More….

Intraday bias in USD/CAD remains neutral for some more consolidations. Upside of recovery should be limited by 1.2928 support turned resistance and bring another fall. On the downside, break of 1.2768 will target 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. Break will target 161.8% projection at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2774; (P) 1.2804; (R1) 1.2832; More….

A temporary low is formed at 1.2772 as USD/CAD lost downside momentum. Intraday bias is turned neutral first. Upside of recovery should be limited by 1.2928 support turned resistance and bring another fall. On the downside,e break of 1.2772 will target 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. Break will target 161.8% projection at 1.2426.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2747; (P) 1.2811; (R1) 1.2848; More….

Intraday bias in USD/CAD remains on the downside for the moment. Current down trend should target 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. Break will target 161.8% projection at 1.2426. On the upside, above 1.2868 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CAD’s down trend resumed last week and accelerated to as low as 1.2772. Initial bias stays on the downside this week for 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. Break will target 161.8% projection at 1.2426. On the upside, above 1.2868 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Further decline should be seen back to 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

In the longer term picture, we’re viewing price actions from 1.4689 as a consolidation pattern. Thus, up trend from 0.9506 (2007 low) is still expected to resume at a later stay. This will remain the favored case as long as 1.2061 support holds, which is close to 50% retracement of 0.9406 to 1.4689 at 1.2048.

Daily Pivots: (S1) 1.2832; (P) 1.2886; (R1) 1.2921; More….

Intraday bias in USD/CAD remains on the downside at this point. Current down trend should target 100% projection of 1.3389 to 1.2928 from 1.3172 at 1.2711 next. On the upside, above 1.2941 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Such decline should now target 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2832; (P) 1.2886; (R1) 1.2921; More….

USD/CAD’s down trend extends to as low as 1.2852 so far. 61.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2887 is already met but there is no sign of bottoming yet. Intraday bias stays on the downside for 100% projection at 1.2711 next. On the upside, above 1.2941 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Such decline should now target 1.2061 (2017 low). In any case, break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2902; (P) 1.2931; (R1) 1.2951; More….

USD/CAD’s decline is still in progress and intraday bias stays on the downside. Next near target will be 61.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2887, and then 100% projection at 1.2711. On the upside, above 1.3025 minor resistance will delay the bearish case, and turn bias neutral first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.2910; (P) 1.2959; (R1) 1.2991; More….

Intraday bias in USD/CAD remains on the downside at this point. Decisive break of 1.2928 support will confirm resumption of whole down trend from 1.4667. Next near term target will be 61.8% projection of 1.3389 to 1.2928 from 1.3172 at 1.2887, and then 100% projection at 1.2711. On the upside, above 1.3025 minor resistance will delay the bearish case, and extend the consolidation from 1.2928 with another rising leg first.

In the bigger picture, fall from 1.4667 is seen as the third leg of the corrective pattern from 1.4689 (2016 high). Rejection by 55 week EMA is keeping outlook bearish. Sustained break of 61.8% retracement of 1.2061 to 1.4667 at 1.3056 will target a test on 1.2061 (2017 low). But we’d expect loss of downside momentum as it approaches this key support. On the upside, firm break of 1.3389 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.