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USD/CAD Each day Outlook


Each day Pivots: (S1) 1.3141; (P) 1.3190; (R1) 1.3237; Extra….

Intraday bias in USD/CAD stays on the draw back for retesting 1.3115 low. Agency break there’ll resume bigger down development, and goal 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054, after which 100% projection at 1.2848. For now, outlook will stay bearish so long as 1.3386 resistance holds, in case of restoration.

Within the larger image, worth actions from 1.3976 are seen as a correction to up development from 1.2005 (2021 low) solely. Therefore, the up development is in favor to renew by means of 1.3976 at a later stage. However, one other fall under 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and lift the prospect of bearish development reversal.

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