Daily Pivots: (S1) 1.3460; (P) 1.3516; (R1) 1.3553; More….
Further decline is expected in USD/CAD as long as 1.3832 resistance holds. Fall from 1.4667 should extend to projection of 1.4667 to 1.3855 from 1.4048 at 1.3236 next. Nevertheless, break of 1.3823 should indicate complete of the decline and turn outlook bullish. for 1.4265 resistance.
In the bigger picture, current development suggests that whole rise from 1.2061 (2017 low) has completed at 1.4667, after failing (2016 high). Fall from 1.4667 could be the third leg of the corrective pattern from 1.4689. Deeper fall is expected to 61.8% retracement at 1.3056 and possibly below. This will now remain the favored case as long as 1.3855 support turned resistance holds.
