Daily Pivots: (S1) 1.4217; (P) 1.4244; (R1) 1.4272; More…
Intraday bias in USD/CAD stays on the upside for the moment. Current up trend is in progress for 1.4391 projection level. On the downside, break of 1.4242 minor support will turn intraday bias neutral again first, and bring deeper pull back to channel support (now at 1.4125). But outlook will stay bullish as long as this channel support holds, and any consolidations would be brief.
In the bigger picture, up trend from 1.2005 (2021) is in progress. Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3418 at 1.4391. Medium term outlook will remain bullish as long as 55 W EMA (now at 1.3706) holds, even in case of deep pullback.
. But outlook will stay bullish as long as this channel support holds, and any consolidations would be brief.){kind=link}