Daily Pivots: (S1) 1.4297; (P) 1.4333; (R1) 1.4372; More…
Intraday bias in USD/CAD remains neutral, with focus on 1.4378 resistance. Firm break there will suggest that the correction from 1.4791 has completed, and turn bias back to the upside for retesting 1.4791. Below 1.4278 minor will bring turn bias to the downside for 1.4150. Firm break there will resume the fall from 1.4791 to 1.3946 cluster support (61.8% retracement of 1.3418 to 1.4791 at 1.3942).
In the bigger picture, long term up trend is tentatively seen as resuming with prior breach of 1.4667/89 key resistance zone (2020/2015 highs). Next target is 100% projection of 1.2401 to 1.3976 from 1.3418 at 1.4993. This will remain the favored case as long as 1.3976 resistance turned support holds (2022 high), even in case of deep pullback.
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