Daily Pivots: (S1) 1.3696; (P) 1.3737; (R1) 1.3795; More… USD/CAD is staying in consolidation from 1.3897 and intraday bias remains neutral at this point. While another fall cannot be ruled out, downside should be contained by 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to bring rebound. Break of 1.3897 is expected at a later
USDCAD Outlook
Daily Pivots: (S1) 1.3655; (P) 1.3683; (R1) 1.3710; More… Intraday bias in USD/CAD is turned neutral first with current recovery. Overall outlook is unchanged that price actions from 1.3897 are developing into a consolidation pattern. While deeper fall cannot be ruled out, downside should be contained by 38.2% retracement of 1.3091 to 1.3897 at 1.3589
Daily Pivots: (S1) 1.3637; (P) 1.3741; (R1) 1.3796; More… Intraday bias in USD/CAD remains on the downside for the moment. Fall from 1.3853 is seen as the third leg of the corrective pattern from 1.3897. Deeper fall would be seen to 1.3627 and possibly below. Strong support should be seen from 38.2% retracement of 1.3091
Daily Pivots: (S1) 1.3779; (P) 1.3805; (R1) 1.3834; More… Break of 1.3745 minor support suggests that USD/CAD’s rebound from 1.3627 has completed at 1.3853 already. Intraday bias is back on the downside for 1.3627 support and possibly below, to extend the corrective pattern from 1.3897. Strong support should be seen from 38.2% retracement of 1.3091
Daily Pivots: (S1) 1.3779; (P) 1.3805; (R1) 1.3834; More… Intraday bias in USD/CAD is turned neutral with 4H MACD crossed below signal line. While another rise might be seen, strong resistance could emerge from 1.3897 to limit upside on first attempt. On the downside, break of 1.3745 will turn bias to the downside to extend
Daily Pivots: (S1) 1.3774; (P) 1.3814; (R1) 1.3837; More… Intraday bias in USD/CAD remains mildly on the upside for retesting 1.3897. Strong resistance could be seen there to limit upside on first attempt. On the downside, break of 1.3745 will turn bias to the downside to extend the corrective pattern from 1.3897 with another falling
USD/CAD’s strong rebound last week indicates that pull back from 1.3897 has completed at 1.3627. Initial bias stays mildly on the upside this week for retesting 1.3897 resistance next. Strong resistance could be seen there to limit upside on first attempt. On the downside, break of 1.3745 will turn bias to the downside to extend