USD/CAD’s rise from 1.3928 continues today and intraday bias remains on the upside for resting 1.4298 high. On the downside, below 1.4104 minor support will turn bias neutral first. But risk will stay on the upside as long as 1.3928 support holds, in case of retreat.
In the bigger picture, current development argues that rise from 1.3480 might still be in progress. Decisive break of 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290 will bring stronger rally to retest 1.4791. However, break of 1.3928 will argue that the rise has completed, and turn near term outlook bearish.
