Daily pivots: (S1), 1.0065. (P) 1.0124. (R1) 1.0158. For more.
USD/CAD still reside in short intervals above 1.0061 and intraday bias remains neutral. 1.0377 resistance intact is expected to still another downturn in the USD/CAD.We would, however, continue to expect strong support from around parity to contain the downside and rebound. Break of 1.0377 will confirm that falls from 1.0671 is over and get stronger rally against 1.0675 resistance.
In the bigger picture, consolidations from 1.0851 is not clear with another descending leg is in progress.Now, we still expect strong support from parity to contain the downside and finally rally resumption. Above 1.0675/0671 resistance zone will draw 38,2% retracement of 1.3063 to 0.9929 at 1.1126 least. sustainable trade in parity, however, will enter 0.9929 is not yet the bottom and becomes the focus back to the low.
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