Daily Pivots: (S1) 1.4340; (P) 1.4375; (R1) 1.4411; More…
Intraday bias in USD/CAD Is turned neutral with current recovery. Consolidation from 1.4466 could still extend lower. But overall downside should be contained above 38.2% retracement of 1.3418 to 1.4466 at 1.4066 to bring rebound. On the upside, break of 1.4466 will resume larger up trend to 1.4667/89 key resistance zone.
In the bigger picture, up trend from 1.2005 (2021) is in progress for retesting 1.4667/89 key resistance zone (2020/2015 highs). Medium term outlook will remain bullish as long as 1.3976 resistance turned holds (2022 high), even in case of deep pullback.
