Intraday bias in USD/CAD is turned neutral with current retreat and some consolidations would be seen. Further rally will remains in favor as long as 1.3769 support holds. Above 1.3924 will resume the rise from 1.3549 to 1.3965 resistance next.
In the bigger picture, price actions from 1.4791 are seen as a corrective pattern to the whole up trend from 1.2005 (2021 low). Deeper fall could be seen, as the pattern extends, to 61.8% retracement of 1.2005 to 1.4791 at 1.3069. However, decisive break of 38.2% retracement of 1.4791 to 1.3480 at 1.3981 will argue that the correction has completed with three waves down to 1.3480 already.
