Daily Pivots: (S1) 1.4415; (P) 1.4488; (R1) 1.4603; More…
USD/CAD’s rally accelerates higher today and breaks through 1.4667/89 resistance zone. There is no sign of topping yet. Intraday bias stays on the upside for 1.4993 projection level next. For now, outlook will remain bullish as long as 1.4372 support holds, in case of retreat.
In the bigger picture, the break of 1.4667/89 key resistance zone (2020/2015 highs) confirms long term uptrend resumption. Next target is 100% projection of 1.2401 to 1.3976 from 1.3418 at 1.4993. Medium term outlook will remain bullish as long as 1.3976 resistance turned holds (2022 high), even in case of deep pullback.
