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USD/CAD Each day Outlook


Each day Pivots: (S1) 1.3596; (P) 1.3703; (R1) 1.3845; Extra…

USD/CAD’s rally continued and hit as excessive as 1.3807 up to now. Intraday bias stays on the upside for 161.8% projection of 1.2005 to 1.2947 from 1.2401 at 1.3925. Agency break there’ll goal 200% projection at 1.4285. On the draw back, under 1.3543 minor assist will flip intraday bias impartial and convey consolidations first, earlier than staging one other rally.

Within the greater image, up pattern from 1.2005 (2021 low) remains to be in progress. 61.8% retracement of 1.4667 to 1.2005 (2021 low) at 1.3650 is already met. Subsequent goal is 1.4667 (2020 excessive). It will now stay the favored case so long as 1.3222 resistance turned assist holds.

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