USDCAD Outlook

USD/CAD's rally from 1.3730 continues today and intraday bias stays on the upside. Next target is a retest on 1.4247 high. On the downside, below 1.4023 minor support will turn intraday bias neutral again first.

In the bigger picture, current rebound suggests that USD/CAD is still staying in medium term consolidation pattern from 1.3480. As long as 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290 holds, an eventual break of 1.3480 is in favor. However, firm break of 1.4290 will dampen this view, and target 1.4791 high instead.

Intraday bias in USD/CAD stays on the upside at this point. Firm break of 61.8% retracement of 1.4247 to 1.3730 at 1.4050 will pave the way to retest 1.4247. On the downside, below 1.3979 minor support will turn intraday bias neutral again first.

In the bigger picture, current rebound suggests that USD/CAD is still staying in medium term consolidation pattern from 1.3480. As long as 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290 holds, an eventual break of 1.3480 is in favor. However, firm break of 1.4290 will dampen this view, and target 1.4791 high instead.

Intraday bias in USD/CAD is back on the upside with break of 1.4013 temporary top. Rise from 1.3730 should target 61.8% retracement of 1.4247 to 1.3730 at 1.4050. Firm break there till pave the way to retest 1.4247. On the downside, below 1.3979 minor support will turn intraday bias neutral again first.

In the bigger picture, current rebound suggests that USD/CAD is still staying in medium term consolidation pattern from 1.3480. As long as 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290 holds, an eventual break of 1.3480 is in favor. However, firm break of 1.4290 will dampen this view, and target 1.4791 high instead.