Daily Pivots: (S1) 1.4006; (P) 1.4142; (R1) 1.4322; More….
Intraday bias in USD/CAD remains on the upside for the moment. Current rally should target medium term projection at 1.4554. On the downside, below 1.3960 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.
In the bigger picture, rise from 1.2061 (2016 low) is still in progress. Next upside target is 100% projection of 1.2061 to 1.3664 from 1.2951 at 1.4554, which is close to 1.4689 (2016 high). Initial resistance could be seen between 1.4554/4689 to bring pull back. Decisive break there will confirm long term up trend resumption.
