USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 0.8268; (P) 0.8287; (R1) 0.8323; More… Current upside acceleration affirms the case that corrective fall from 0.8472 has completed at 0.8239 already. Intraday bias in EUR/GBP remains on the upside for 61.8% retracement of 0.8472 to 0.8239 at 0.8383. Sustained break there will target 0.8472 resistance next. On the downside, below 0.8321 […]

AUD/USD’s rebound from 0.6269 continued last week, and late breach of 0.6674 temporary top suggests that it’s resuming after brief retreat. Initial bias is back on the upside this week. Sustained break break of channel resistance (now at 0.6661) will argue that whole decline from 0.7156 has completed with three waves down to 0.6269. Further […]

Daily Pivots: (S1) 0.6210; (P) 0.6249; (R1) 0.6270; More… Intraday bias in AUD/USD is turned neutral with current retreat. Consolidation from 0.6178 could still extend with another rise to 55 D EMA (now at 0.6416). But near term outlook will stay bearish as long as 38.2% retracement of 0.6941 to 0.6178 at 0.6469. Nevertheless, firm […]