Daily Pivots: (S1) 1.3951; (P) 1.3977; (R1) 1.4025; More…
USD/CAD surges through 1.3976 key resistance as larger up trend resumes. Intraday bias is back on the upside. Next near term target is 61.8% projection of 1.3418 to 1.3958 from 1.3841 at 1.4175. For now, outlook will stay bullish as long as 1.3841 support holds, in case of retreat.
In the bigger picture, up trend from 1.2005 (2021) is resuming with break of 1.3976 key resistance (2022 high). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3418 at 1.4391. Now, medium term outlook will remain bullish as long as 1.3418 support holds, even in case of deep pullback.
