Daily Pivots: (S1) 1.3805; (P) 1.3827; (R1) 1.3855; More…
Intraday bias in USD/CAD Is back on the upside with breach of 1.3837 temporary top. Rise from 1.3418 is resuming and should target 1.3946/76 key resistance zone. For now, further rally is expected as long as 1.3746 support holds, in case of retreat.
In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.
