USD/CAD Mid-Day Outlook

[Forex-Outlook]

USDCAD's sharp pull back from 1.0734 extends further to as low as 1.0496 so far and more decline might still be still. Nevertheless, we'd still expect downside to be contained above 1.0280 support and bring another rise. ABove 1.0571 minor resistance will flip intraday intraday bias back to the upside and break of 1.0734 will target 1.0779 key resistance next. Though, note that decisive break of 1.0280 will indicate that rise from 0.9929 is completed and will turn focus back to this low.

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