Daily Pivots: (S1) 1.3633; (P) 1.3663; (R1) 1.3715; More…
Intraday bias in USD/CAD remains neutral for the moment. Strong rebound from current level, followed by break of 1.3782 resistance, will retain near term bullishness. Further break of 1.3845 will resume larger rise from 1.3176 towards 1.3976 key resistance next. However, sustained trading below 55 D EMA (now at 1.3618) will argue that whole rise from 1.3176 has completed already, and target 1.3477 support next.
In the bigger picture, price actions from 1.3976 (2022 high) are viewed as a corrective pattern only. In case of another fall, strong support should emerge above 1.2947 resistance turned support to bring rebound. Firm break of 1.3976 will confirm up resumption of whole up trend from 1.2005 (2021 low). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3176 at 1.4149.
 will argue that whole rise from 1.3176 has completed already, and target 1.3477 support next.){kind=link}