Intraday bias in USD/CAD is turned neutral with current recovery, and some consolidations could be seen above 1.3730. Upside should be limited by 38.2% retracement of 1.4247 to 1.3730 at 1.3972. Break of 1.3730 will resume the fall from 1.4247 to retest 1.3480 low.
In the bigger picture, the pattern from 1.4791 (2025 high) is still extending, with fall from 1.4247 as the third leg. Firm break of 1.3480 will pave the way to 100% projection of 1.4791 to 1.3480 from 1.4247 at 1.2936. For now, medium term risk will stay on the downside as long as 1.4247 resistance holds, in case of rebound.
