Daily Pivots: (S1) 1.3698; (P) 1.3734; (R1) 1.3761; More… Intraday bias in USD/CAD stays neutral and outlook is unchanged. 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 stage to resume larger rally.
USDCAD Outlook
USD/CAD continued to engage in sideway trading last week and outlook is unchanged. Initial bias remains neutral this week first. 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 stage to resume larger
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
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