Daily Pivots: (S1) 1.3262; (P) 1.3283; (R1) 1.3302; More….
Intraday bias in USD/CAD is turned neutral first, with 4 hour MACD crossed below signal line. Focus stays on 1.3327 resistance. As noted before, corrective pattern from 1.3664 should have completed as a triangle at 1.2951. Decisive break of 1.3327 should confirm this bullish case. For now, this will remain the preferred case as long as 1.3104 resistance turned support holds.
In the bigger picture, price actions from 1.3664 (2018 high) is seen as a corrective move that has probably completed. Rise from 1.2061 (2017 low) might be ready to resume. Decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to retest 1.4689 high.
