USD/CAD’s decline from 1.4667 extended further to 1.3191 last week. A temporary low was formed there and initial bias is turned neutral first. Some consolidations could be seen but upside should be limited by 1.3398 resistance to bring another decline. On the downside, break of 1.3191 will target long term fibonacci level at 1.3056. Nevertheless, firm break of 1.3398 should indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

In the longer term picture, the bullish case of resuming the up trend from 0.9506 (2007 low) is delayed. Consolidation from 1.4689 is extending for another medium term fall. As long as 1.2061 support holds, such up trend should still resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3188; (P) 1.3224; (R1) 1.3255; More….

Intraday bias in USD/CAD remains on the downside at this point. Current fall from 1.4667 should target long term fibonacci level at 1.3056. On the upside, break of 1.3398 resistance should indicate short term bottoming and turn bias back to the upside for 1.3715 resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3204; (P) 1.3276; (R1) 1.3321; More….

USD/CAD’s break of 1.3233 support suggests resumption of the fall from 1.4667. Intraday bias is back on the downside for long term fibonacci level at 1.3056. On the upside, break of 1.3398 resistance should indicate short term bottoming and turn bias back to the upside for 1.3715 resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3258; (P) 1.3309; (R1) 1.3348; More….

Intraday bias in USD/CAD remains neutral and further fall is expected with 1.3459 resistance intact. On the downside, break of 1.3233 will resume the fall from 1.4667 and target long term fibonacci level at 1.3056. However, firm break of 1.3459 will indicate short term bottoming, and turn bias back to the upside for 1.3715 resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3326; (P) 1.3361; (R1) 1.3387; More….

USD/CAD is staying in consolidation from 1.3233 and intraday bias remains neutral first. Further decline is expected as long as 1.3459 resistance holds. On the downside, break of 1.3233 will resume the fall from 1.4667 and target long term fibonacci level at 1.3056. However, firm break of 1.3459 will indicate short term bottoming, and turn bias back to the upside for 1.3715 resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3323; (P) 1.3361; (R1) 1.3424; More….

Intraday bias in USD/CAD remains neutral first. Further fall is expected as long as 1.3459 resistance holds. Break of 1.3233 will target long term fibonacci level at 1.3056. However, firm break of 1.3459 will indicate short term bottoming, and turn bias back to the upside for 1.3715 resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

USD/CAD resumed the decline from 1.4667 and dropped to 1.3233 last week. But as it then staged a quick recovery, initial bias is neutral this week first. Further fall is expected as long as 1.3459 resistance holds. Break of 1.3233 will target long term fibonacci level at 1.3056. However, firm break of 1.3459 will indicate short term bottoming, and turn bias back to the upside for 1.3715 resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

In the longer term picture, the bullish case of resuming the up trend from 0.9506 (2007 low) is delayed. Consolidation from 1.4689 is extending for another medium term fall. As long as 1.2061 support holds, such up trend should still resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3258; (P) 1.3291; (R1) 1.3337; More….

Intraday bias in USD/CAD is turned neutral with current recovery, but further fall is expected as long as 1.3459. On the downside, break of 1.3233 will extend larger decline to long term fibonacci level at 1.3056. However, firm break of 1.3459 will indicate short term bottoming, and turn bias back to the upside for 1.3715 resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3223; (P) 1.3277; (R1) 1.3320; More….

Intraday bias in USD/CAD remains on the downside at this point. Current down trend should target long term fibonacci level at 1.3056. On the upside, break of 1.3459 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain bearish in case of recovery.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3287; (P) 1.3354; (R1) 1.3389; More….

USD/CAD’s break of 1.3315 suggests resumption of whole decline from 1.4667. Intraday bias is back on the downside. Deeper fall should be seen to long term fibonacci level at 1.3056. On the upside, break of 1.3459 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain bearish in case of recovery.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3715 resistance holds. However, sustained break of 1.3715 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3364; (P) 1.3407; (R1) 1.3435; More….

Intraday bias in USD/CAD remains neutral first. Rebound from 1.3330 short term top is still in favor to continue. On the upside, break of 1.3459 will turn bias back to the upside for 1.3715 resistance. Break will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. On the downside, firm break of 1.3315 will resume the fall from 1.4667 instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3379; (P) 1.3410; (R1) 1.3447; More….

USD/CAD’s recovery lost momentum as intraday bias is turned neutral first. Rise from 1.3330 short term bottom is still in favor to extend. On the upside, break of 1.3459 will turn bias back to the upside for 1.3715 resistance. Break will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. On the downside, firm break of 1.3315 will resume the fall from 1.4667 instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

USD/CAD dropped to as low as 1.3330 last week but recovered ahead of 1.3315 low. A short term bottom is probably in place. Initial bias will stay mildly on the upside for further rebound to 1.3715 resistance. Break will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. On the downside, firm break of 1.3315 will resume the fall from 1.4667 instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

In the longer term picture, the bullish case of resuming the up trend from 0.9506 (2007 low) is delayed. Consolidation from 1.4689 is extending for another medium term fall. As long as 1.2061 support holds, such up trend should still resume through 1.4689 at a later stage.

Daily Pivots: (S1) 1.3349; (P) 1.3404; (R1) 1.3475; More….

Intraday bias in USD/CAD remains mildly on the upside at this point. Rebound from 1.3330 short term bottom would target 1.3715 resistance. Break there will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. On the downside, firm break of 1.3315 will resume the fall from 1.4667 instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3319; (P) 1.3353; (R1) 1.3373; More….

USD/CAD’s break of 1.3445 resistance suggests short term bottoming at 1.3330, ahead of 1.3315 support. Intraday bias is turned back to the upside for 1.3715 resistance. Break there will target 38.2% retracement of 1.4667 to 1.3315 at 1.3831. ON the downside, firm break of 1.3315 will resume the fall from 1.4667 instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3319; (P) 1.3353; (R1) 1.3373; More….

Intraday bias in USD/CAD stays neutral at this point. On the downside, firm break of 1.3315 will resume the whole decline from 1.4667 for 1.3056 long term retracement level. However, firm break of 1.3490 will suggest completion of the fall from 1.3715. Intraday bias will be turned back to the upside for this resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3338; (P) 1.3372; (R1) 1.3414; More….

Intraday bias in USD/CAD remains neutral for the moment and outlook is unchanged. On the downside, firm break of 1.3315 will resume the whole decline from 1.4667 for 1.3056 long term retracement level. However, firm break of 1.3490 will suggest completion of the fall from 1.3715. Intraday bias will be turned back to the upside for this resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3330; (P) 1.3380; (R1) 1.3407; More….

Intraday bias in USD/CAD remains neutral first. On the downside, firm break of 1.3315 will resume the whole decline from 1.4667 for 1.3056 long term retracement level. However, firm break of 1.3490 will suggest completion of the fall from 1.3715. Intraday bias will be turned back to the upside for this resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

Daily Pivots: (S1) 1.3380; (P) 1.3412; (R1) 1.3448; More….

Intraday bias in USD/CAD remains neutral for the moment. On the downside, firm break of 1.3315 will resume the whole decline from 1.4667 for 1.3056 long term retracement level. However, firm break of 1.3490 will suggest completion of the fall from 1.3715. Intraday bias will be turned back to the upside for this resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

USD/CAD dropped to as low as 1.3351 but recovered ahead of 1.3315 low. Initial bias is neutral this week first. On the downside, firm break of 1.3315 will resume the whole decline from 1.4667 for 1.3056 long term retracement level. However, firm break of 1.3490 will suggest completion of the fall from 1.3715. Intraday bias will be turned back to the upside for this resistance instead.

In the bigger picture, the rise from 1.2061 (2017 low) could have completed at 1.4667 after failing 1.4689 (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement of 1.2061 to 1.4667 at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds. However, sustained break of 1.3855 will turn focus back to 1.4689 key resistance.

In the longer term picture, the bullish case of resuming the up trend from 0.9506 (2007 low) is delayed. Consolidation from 1.4689 is extending for another medium term fall. As long as 1.2061 support holds, such up trend should still resume through 1.4689 at a later stage.