Exploring the Current Intraday Bias and Projections for USD/CAD

Thursday, 11 July 2024, 06:13
The intraday bias for USD/CAD is currently neutral, with expectations of a continuing corrective pattern from 1.3845. A potential extension of this pattern may lead to a target of 1.3534 after a break of 1.3589. Strong support levels at 1.3534 suggest a potential rebound scenario. Minor resistance at 1.3686 could signal a shift in bias towards an upside movement, targeting 1.3790 resistance.
Actionforex
Exploring the Current Intraday Bias and Projections for USD/CAD

USD/CAD Daily Outlook

Summary:

Intraday bias in USD/CAD remains neutral for the moment. Outlook is unchanged that the corrective pattern from 1.3845 could extend. Break of 1.3589 will target 100% projection of 1.3845 to 1.3589 from 1.3790 at 1.3534. Strong support would be seen there to bring rebound. On the upside, above 1.3686 minor resistance will turn bias back to the upside for 1.3790 resistance instead.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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